managed to halt bankruptcy proceedings against him.

Supreme Court judge the Hon. Mr. Justice Ground will announce the outcome of four days of court argument this week between Mr. Peniston and his former business partner, Mr. Robert Thomson.

The bitter battle follows the failure of their glass-bottom boat business, Bermuda Vacations.

Mr. Saul Froomkin, for Mr. Thomson, said his client had continued to help his partner even when Mr. Peniston failed to repay a $80,000 loan.

Mr. Peniston's passenger forecasts were over-optimistic, he said, and the firm's two boats earned almost $90,000 less than expected in the firm's first month.

"The only person who had any money was Mr. Thomson. He continued to stick his neck out to keep the company alive,'' said Mr. Froomkin.

On allegations that Mr. Thomson threatened Mr. Peniston with bankruptcy, Mr.

Froomkin said there was nothing wrong with such threats if a debtor failed to pay up.

The wonder was that Mr. Thomson didn't do it earlier, he said.

On accusations that Mr. Thomson schemed to set up a rival operation with Bermuda Island Cruises, Mr. Froomkin said Mr. Peniston joined Mr. Thomson at first for talks with BIC's Mr. Donald Morris.

"But Mr. Morris didn't want to do business with Mr. Peniston.'' Mr. Thomson did not keep his plans from anybody, Mr. Froomkin said.

He added: "Mr. Peniston is hopelessly insolvent, bankrupt, and he has been for a very long time.'' Mr. Delroy Duncan, for Mr. Peniston, said Mr. Thomson had behaved unlawfully in planning a competing operation.

Mr. Thomson damaged the company, and therefore Mr. Peniston, by not telling him of his dealings with a rival, he said.

Mr. Thomson had also tried to recruit Bermuda Vacations staff for this venture.

And he told Mr. Peniston's secretary he wanted to get in between her boss and his cruise ship contacts, said Mr. Duncan. The company had been a lifeline for Mr. Peniston, but Mr. Thomson had not been loyal to it.