A former Bermuda Fire & Marine Insurance Co. Ltd. director told a shocked courtroom yesterday that the "ultimate objective'' of the company's 1991 reorganisation was to prevent international creditors from having access to assets in the profitable local business.

David A. White, president and managing director of Knick Knack on Reid Street, was being cross examined by Clare Montgomery, lawyer for Bermuda Fire's liquidator.

See Business section, Page 21 BUSINESS BUC