Fyffes’ boss feared ‘creeping control’ move

FYFFES’ chairman Carl McCann feared Jim Flavin was gaining “creeping control” of the fruit importers in 1998.

He told the High Court yesterday that when DCC, which had a 10% stake in the company and whose Jim Flavin was on the Fyffes' board, asked for a scrip dividend to receive Fyffes' shares in lieu of cash Mr McCann was concerned that this was the start of a potential takeover.

Mr McCann said Mr Flavin has also shown an interest in converting DCC's preference shares in Fyffes into ordinary shares, the affect of which would have increased DCC's stake to 15%.