principally owned by entrepreneur Mr. Kenneth DeFontes and Mr. Conrad Engelhardt.

Details are not being released by any of the parties involved, but Mr.

DeFontes said he was confident the matter would be resolved without the company being wound up.

"It will be resolved but I cannot talk about it right now,'' he said yesterday. "I don't think the company will be wound up.'' Mr. DeFontes is the president and largest shareholder of the company, owning a 50.16 percent stake.

The second largest shareholder is South Shore Development Corporation (SSDC), which is mainly owned by Mr. Engelhardt and his wife.

Lawyer the Hon. Charles Collis, has a nominal single share in both Warwick Hotel Company and SSDC.

Warwick Hotel Company sold the The Inverurie Hotel in 1989 to Mrs. Bridget Marshall, Mr. Emilio Barbieri and Mr. John Jefferis.

The company currently owns four apartments known as Harbour House, at Cobbs Hill, Paget; 1.8 acres of land at Mount Royal, opposite Fourways Inn, in Paget; and the pool wing across from The Palm Reef Hotel (formerly The Inverurie).