Troubled businessman Mr. Llewellyn Peniston has been ordered by the Supreme Court to pay $103,000 to his former partner, Mr. Robert Thomson.

If he does not or cannot pay up, the path will be clear for Mr. Thomson to instigate bankruptcy proceedings against Mr. Peniston.

Mr. Thomson, a self-made multi-millionaire, said yesterday: "I'm delighted by the decision. It's excellent news. The next stage is to try and collect it.'' The Hon. Mr. Justice Ward made his judgment on Friday after listening to legal arguments from Mr. Saul Froomkin, representing Mr. Thomson, and Mr. Robin McMillan, for Mr. Peniston.

The award is for an $88,000 loan, plus $15,000 interest, Mr. Thomson gave to Mr. Peniston in 1987 to prop up Bermuda Travel and Shipping, which went bust last year with debts of more than $1 million. Mr. Peniston was also made to pay the costs of the case.

Lawyer Mr. Delroy Duncan, who normally represents Mr. Peniston, said yesterday his client would appeal the decision on the grounds that the debt was provided for by other securities.

Mr. Thomson and Mr. Peniston have not been on speaking terms for several months following the collapse of their joint business interests.

Mr. Thomson, a Scotsman, has maintained that he was naive in lending money to Mr. Peniston after coming to live in Bermuda following the sale of his US-based computer software company for several million dollars.

He said he was "suckered'' into Mr. Peniston's other businesses, local tour boat firms Bermuda Vacations and Bermuda Excursions, while trying to recover his initial investment and said he was given shares in the two companies which turned out to be worthless.

Mr. Peniston, on the other hand, claims that Mr. Thomson was at least partly responsible for the demise of Bermuda Vacations and Bermuda Excursions.

Mr. Peniston alleged that Mr. Thomson had been in sole control of both companies' finances since mid-1990.

MR. Robert Thomson -- delighted.