was sorted out.

Raymond Davis -- who has just taken over two dry-cleaning shops after they became the focus of a row over union rights -- said the matter had been detained at Magistrates' Court for two hours then released after a debt was paid.

And Mr. Davis -- said to owe $2 million -- added his business plan to sort out his financial difficulties was on track.

He vowed: "I have resolved this matter and am in the process of creating a package for all of the people who are owed funds.

"It will take at least four or five weeks to get it together -- but people need to know I will make good on everything.

"I would ask them to be patient in the meantime. When you have a debt scenario such as I have and one or two people want to be satisfied, it's prejudicing some people if I pay others.'' And he said there was no need to "eliminate'' indebted businessmen, especially when the Bermudian economy was buoyant.

Mr. Davis added that no-one would be allowed to get $2 million in debt unless they had assets "far in excess'' of the debt.

He said: "I am arranging my assets in such a way that there is a proper debt structure and flow and feel very confident that I can do that.'' Mr. Davis recently took over Hamilton Valcleaners and Paget Dry Cleaners from businessman Stephen Thomson after Mr. Thomson's other businesses, which include Mailboxes Unlimited, were picketed during a three-day Bermuda Industrial Union wildcat strike which crippled bus, ferry and garbage collection services.

He refused to discuss how he funded the purchase of the two shops.

But Mr. Davis added: "People who have been in business know I have always had the ability to cope with large sums in terms of debt, particularly when it's a viable business with equity.

"The business over the next few weeks and months will prove itself. The business is a going concern and it will be very profitable.''