boss-turned-law-student Llewellyn Peniston.

But Puisne Judge the Hon. Mrs. Justice Wade attached several conditions to her order including that Peniston must comply with an order to attend the resumption of bankruptcy proceedings against him as soon as he has sat his law exams.

Other conditions were at the request of official receiver Mr. Mark Diel.

The Court heard on Monday the University of Buckingham had suspended Peniston after learning he was wanted in Bermuda for a bankruptcy hearing.

Peniston had been studying law at Buckingham in England and as a result of his suspension was unable to sit his final exams.

Upon hearing this, Mrs. Wade expressed concern at the tactics of Mr. Diel in pursuing Peniston.

However, the lawyer said he had simply been taking necessary steps to preserve the assets of the creditors.

"We did not say he couldn't attend the university,'' he said.

A hearing is scheduled for this morning to set a date for the resumption of the case against Peniston. It's not likely to be until December though.

Peniston's lawyer Miss Victoria Pearman applied on Monday to set aside a arrest warrant issued for her client in July. He had failed to show up for his July 25 court date as a result of a "misunderstanding'', she said.

The warrant was issued in July after the former Government senator and travel and shipping company president failed to show up for bankruptcy proceedings, having been taken to court by his former business partner Robert Thomson.

It is alleged Peniston owes an estimated $760,000.