Lawyer draws blank on details of meetings
BF&M chief executive officer Glenn Titterton yesterday said he could not account for the absence of hard information relating to a key aspect of the Bermuda Fire case.
The case resumed in Supreme Court with the continued cross-examination of Mr.
Titterton by Ian Croxford, QC, the lawyer for Cooper and Lines.
Afternoon sessions began with questions regarding the meetings between Bermuda Fire and JP Morgan, from whom the company expected recommendations to counter losses sustained through its account with London underwriters HS Weavers.
JP Morgan were scheduled to make a presentation to the Bermuda Fire managers and the Board on April 10 and 11, 1991. However, Mr. Croxford's efforts to learn the specifics of these meetings were repeatedly stymied.
He asked: "Who asked what of JP Morgan?'' Mr. Titterton said: "This was a very long discussion in which everyone played their role ... I couldn't sit here and say I remember a specific question raised by a specific person.'' Mr. Titterton said he thought it likely that during the presentation his colleagues would have taken notes. But when Mr. Croxford asked what had become of them he replied: "I couldn't answer that -- any notes should be in the files.'' "We have made efforts to go through all the files, and we have failed to find any single, solitary piece of information which we could identify as notes for the meeting of April 10,'' said Mr. Croxford.
Lawyer fails to extract details Similarly, no minutes were available for the meeting of April 11, attended by the Board of Directors. Nor could Mr. Titterton recall specially what conclusions he passed on to chairman Charles Collis following the Morgan presentation.
"I'm as surprised as you that there's nothing in the files,'' Mr. Titterton said, "because usually when we have meetings, individuals make notes.'' Similarly, in reviewing the quarterly accounts statements for 1990, Mr.
Croxford's questioning produced little.
"What you never saw before the 6th of September was a sheet purporting to show some overall position for the company?'' he asked.
Mr. Titterton answered that this was not consistent with his memory and that accounts had indeed been prepared.
However, when Mr. Croxford asked if Mr. Titterton ever saw any such statement of earnings, Mr. Titterton replied: "What did it show? After eight years I can't tell you ... I'm very, very surprised that there is nothing in the files.'' The case continues.
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