CATHY Parke-Thwaites, a former senior executive of Dyoll Insurance Company and the firm’s former chairman, James Morrison, are to appear in court next month to answer charges of insurance fraud, following the company’s collapse earlier this year.

Their arrest on Wednesday followed that in July of Mark Thwaites, Dyoll’s former chief operating officer as well as Parke-Thwaites’s husband.

Parke-Thwaites and Morrison appeared in the Corporate Area Resident’s Magistrate Court yesterday when Resident Magistrate Martin Gayle set their case for mention.

They had been granted bail Wednesday night by the Half-Way-Tree police in the sum of $500,000 and $30,000, respectively. The reason for the disparity in the bail sums was not immediately clear.

Parke-Thwaites, like her husband, who is on a $1.5-billion bail, is being represented by Winston Spaulding QC and Linton Walters, while Morrison is being represented by C Williams.

The government’s case is being prosecuted under special fiat by Richard Small and Phillip Sutherland.

The industry regulatory agency, the Financial Services Commission, took control of Dyoll in March, when it became clear that the company was insolvent. It could not meet claims from clients in the Cayman Islands, which was devasted by Hurricane Ivan in September 2004.

Mark Thwaites was accused by the regulators of, among other things, providing them with doctored information about the health of the company.

Parke-Thwaites and Morrison face related charges.

The Thwaites family had held a large, but not controlling interest in Dyoll. Cathy Parke Thwaites and Mark Thwaites had the largest chunk, until they sold most of them in early 2004 to National Commercial Bank.