Supreme Court failed yesterday.

Creditors -- meeting for the first time -- voted against the motion.

It had been put forward by Mr. Saul Froomkin, lawyer for Mr. Peniston's ex-business partner Mr. Robert Thomson.

Mr. Peniston, 48, said afterwards: "I am just grateful to all the creditors who expressed understanding and support for my position.

"And I wish to thank all of those who separately provided much moral support for me. I also wish to state publicly that I forgive all my enemies.'' Mr. Peniston, of South Shore Road, Southampton, may now have to appear in Supreme Court for a "public examination''.

This would allow creditors to put Mr. Peniston in the witness stand and question him on his affairs. Mr. Peniston's lawyer Mr. Delroy Duncan is expected, however, to fight a public examination.

He indicated this at yesterday's creditors' meeting at Hamilton's Chamber of Commerce in Front Street.

The meeting was chaired by the official receiver Mr. Mark Diel, who read out proofs of Mr. Peniston's alleged debts -- delivered to him by creditors.

The amount owing, according to the proofs, totalled roughly $760,000. This did not include interest and costs, he said.

Mr. Thomson's claim came to about $181,000, exclusive of costs, Mr. Diel said.

At the meeting creditors were able to pick up Mr. Diel's preliminary report on Mr. Peniston's estate. In it, Mr. Diel states Mr. Peniston claimed he probably owed $125,831.86, excluding any indebtedness to Mr. Thomson.

"Apart from basic living expenses no payments have been made by the debtor to any creditor since May 8, 1993.'' The report added: "It appears Mr. Peniston's indebtedness is more in the region of $535,000.'' Included in the report was a sworn statement from Mr. Peniston on his affairs.

In it, Mr. Peniston stated: "As I am currently unemployed, and this has been the experience over the last six months, fuelled in part by the unremitting litigation, there has been no income, and therefore an inability for me to take care of my family obligation, which includes my 15-year-old son.

"It is clear that I am interested in a scheme of arrangement with all my creditors. However, there is one and certainly no more than two creditors on this list, who are interested in obstructing such an arrangement, driven by personal considerations which is their prerogative.'' Mr. Peniston was taken to court last year by his 43-year-old former partner Mr. Thomson following the failure of their business venture.

In his judgement, the Hon. Mr. Justice Ground declared Mr. Peniston was insolvent -- unable to pay his debts.

He also attacked Mr. Peniston for making "most serious'' claims against Mr.

Thomson.

These claims were "calculated to do the utmost harm'' to Mr. Thomson's business and professional reputation, said Mr. Ground.