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Titterton testimony nears end in Supreme Court

The cross-examination of Bermuda Fire chief executive officer Glenn Titterton neared its end in Supreme Court yesterday.

Elizabeth Gloster, QC, the lawyer for the corporate defence team, confined most of her questioning of Mr. Titterton to the ill-received review of Bermuda Fire conducted by New York merchant bankers J.P. Morgan in 1990.

And Mr. Titterton vehemently denied a direct link between this report, and Bermuda Fire management's concurrent disagreements with J P Morgan, and Bermuda Fire's acceptance of the reorganisation plan tabled by the local accountants Coopers & Lines.

Mr. Titterton said that, contrary to his understanding that Morgan's task had been to find some solution to Bermuda Fire's problematic international business, Morgan's own representatives seemed more inclined to give an overview of the company as whole.

"What was your understanding of the international department's reaction to details of the J.P. Morgan report?'' Ms Gloster asked.

"They weren't impressed with the presentation,'' Mr. Titterton said.

"In all areas of the company we had thrown our hands up in the air.'' "Was there any connection between what J.P. Morgan were doing ... and the Coopers & Lines reorganisation plan?'' Ms Montgomery asked.

"No,'' Mr. Titterton said. "I've maintained throughout the time I've been here that the two projects were running parallel, and the one had absolutely nothing to do with the other.'' The case continues.