company's former directors and about 1,000 shareholders of BF&M Ltd. will be heard by the Supreme Court in September 1998.

However, neither liquidators Ernst & Young nor lawyers for the defendants would confirm whether a date has been set. The information was not available from the Registry of the Supreme Court.

Newsletter Offshore Alert stated that the court date was set after the end of a series of in Chambers hearings about the case. Liquidators are suing for recovery of assets which they allege were stripped from the company and given as share dividend in BF&M, which was set up in 1991 to buy Bermuda Fire's domestic business.

Two years after Bermuda Fire then went into liquidation with debts of about $500 million mostly owed to US insurance companies according to the newsletter.

LOCAL COURIER COMPANIES JOIN FORCES BUC Local courier companies join forces Courier companies have formed Bermuda Air Express Ltd. to lease the former public works shed at the airport for customs clearance of packages.

International Bonded Couriers Ltd. (IBC), DHL Worldwide Express, Federal Express Ltd., and United Parcel Services Ltd. were forced to make the arrangement after a week-long strike by Customs officers in February over poor working conditions at the current clearing shed.

The courier companies subsequently reached an agreement with Government to lease accommodation at a disused Works and Engineering shed for five years.

IBC President Glen Smith said the companies were now waiting for Works and Engineering to renovate the shed. The companies will also split the costs of X-ray equipment and video surveillance.

COURTS CTS