artists is being set up.

A spokesman for Cup Match (Holdings) Ltd., which has applied to incorporate Cup Match Family Promotions Limited under The Companies Act, 1981, declined to discuss the new venture.

Corrin Smith said the company, which was essentially a personal holding company, was in the stages of being incorporated and was a proprietary concept which intended to open up local entertainment.

One of the new firm's objectives, as listed in a legal notice in The Royal Gazette , is "to carry on the business of entertainment promoters, sports promoters, agents and managers, artists' managers and representatives in all and any spheres of entertainment and sport''.

The application calls for permission under incorporation to employ people to write articles for publication and create radio and television productions for broadcast so as to promote sports.

And it states that it wishes to be able to provide management, secretarial, advertising, publicity, promotion, accountancy, merchandising, personal and social facilities as required by artists and others engaged in film, radio, television, entertainment and sporting events and activities.

COURT CASE COULD PROVE COSTLY FOR UPS CTS Court case could prove costly for UPS A court case that involves Bermuda-based reinsurer Overseas Partners could have expensive repercussions for carrier United Parcel Service. Overseas Partners, which reinsures UPS, is involved in a case with UPS, who could be liable for up to $1 billion in federal income tax if it loses the case before the US Tax Court in Atlanta.

According to the Journal of Commerce, the case centres on excess insurance charges for clients over and above an initial $100 package value, and the taxes paid. The case relates to one year, 1984, but if the Internal Revenue Service wins, it could sue UPS for all subsequent years -- which could top $1 billion in back taxes and penalties.