Roy Bouchier

The civil libel trial between Offshore Business News & Research, Inc., which publishes this newsletter, and The Harris Organization financial services group of Panama will start at the United States District Court for the District of Southern Florida (in Miami) on July 6. After two postponements by the court because of scheduling problems, a definite date has now been set for the trial, which is scheduled to last for about one week.

PaineWebber this month fired long-serving broker Terry Cross and terminated its relationship with Bahamas-based financial and corporate services company International Trade & Investments Limited over fears of becoming implicated in a possible tax evasion scandal. PaineWebber took this aggressive action after being tipped off that Cross, who worked at its San Francisco office, had allegedly promoted tax evasion during a speech he gave at an offshore seminar held two months ago in Nassau by ITI.