‘DCC had high corporate standards and did not breach company law’

DCC did not breach company law or indulge in insider trading when it sold its stake in fruit importer, Fyffes, 10 years ago, the long-running independent investigation into the matter has found.

On the request of the Office of the Director of Corporate Enforcement (ODCE), the High Court appointed an inspector, Bill Shipsey, to investigate the behaviour of DCC in selling, for €106m, its stake in Fyffes in July of 2008.

The findings of that probe – published in a 970-page report, yesterday – stated that no further action, over allegations of insider trading on DCC’s part, will be taken by the ODCE.