to pay the company's debts, Senators heard.

Letters are understood to have gone out to the 300 members, asking them each for a payment, regardless of the original amount invested, for the former supermarket business.

The letters are understood to be signed by Co-Op chairman and PLP party chairman Victor Fishington. Sen. E.T. (Bob) Richards told members of the Senate that he had invested $20 in the venture 15 years ago -- which went out of business in October last year -- but was amazed to recieve the request.

He said the organisation had been mismanaged and no annual general meetings held.

They were a "law unto themselves'', he said.

It is understood that debts could be as high as $1.4 million, with the Bermuda Industrial Union being the largest creditor to the tune of $483,000.

"There has been no accountability, nobody knows where the money has gone,'' said Mr. Richards.

BUSINESS BUC