Plymouth, Montserrat mud and lava would have been scorched and left completely non-arable by the heat of the pyroclastic flows. Plymouth was abandoned and the entire southern half of the island was declared an exclusion zone because of the continuing volcanic activity at the Soufrière Hills. The government of the island was moved to Brades, although Plymouth remains the "de jure" capital. , a new port and capital are under construction at Little Bay, on the island's northwest coast. The destruction of Plymouth caused severe economic problems for the island of Montserrat. Plymouth had been by far the largest settlement on the
Long-Term Capital Holdings v. United States Long-Term Capital Holdings v. United States Long Term Capital Holdings v. United States, 330 F. Supp. 2d 122 (D. Conn. 2004), was a court case argued before the United States District Court for the District of Connecticut that concerned a tax shelter used by Long-Term Capital Management, a failed hedge fund. The tax shelter had been designed by Babcock & Brown for Long-Term Capital to shelter it's short-term trading gains from 1997. The case was an appeal of an Internal Revenue Service denial of the plaintiffs' claim of $106,058,228 in capital losses during the 1997 tax year and associated penalties.