profits, is being accused of not disclosing records.

Defence counsel for British paint company Liquid Plastics Ltd. (LPL), Mr.

Jeffrey Elkinson, said Ramadhin Smith, 70-percent shareholder in Colourflex Bermuda Ltd. (CBL), has not disclosed certain financial records and the minute book which chronicles the activities of the company.

Smith last year filed suit against LPL for lost profit after he claims LPL did not live up to an exclusive Bermuda distribution arrangement for a special roof paint.

"The biggest problem is the question of disclosing the minute book and accounting record,'' commented Mr. Elkinson of Conyers, Dill & Pearman.

As of last Tuesday affidavits verify these documents do exist and they are "essential'', he continued.

But lawyer, the Hon. Jerome Dill, counsel for Smith, said there are no more records to give and the CBL records do no apply.

"Every single account on which we propose to rely has been disclosed to (Mr.

Elkinson)...financial and otherwise,'' said Mr. Dill of Appleby, Spurling & Kemp.

Dill added because the plaintiff is now Ramadhin Smith -- trading as Bermuda Coatings Company (BCC) -- that those documents do not apply to these proceedings.

The change of plaintiff will not be a factor in efforts to obtain the two documents, according to Mr. Elkinson.

Mr. Elkinson plans to take steps requiring Smith produce the documents. Smith, managing director and 70-percent shareholder of CBL, said his company was given exclusive distribution rights three years ago then two years ago LPL formed an alliance with a larger Island company to distribute the product.

Smith originally sought $600,000 in July 1993.

LPL claimed CBL was on a probationary arrangement and the association was not exclusive to CBL.

A counter suit field by LPL claiming Smith owes the company $31,300 for paint supplies was not disputed but how that amount will factor into the $450,000 will have to be determined at a preliminary hearing.

The case was adjourned with Puisne Judge the Hon. Mr. Justice R. Ground granting an application from Mr. Dill requesting the change of plaintiff.

No date was set for the hearing or for a trial.

Smith last year won the first round of the legal battle in the Supreme Court by winning the right to have the case heard in Bermuda.

The British firm was seeking to have the matter heard before a British court.