A High Court judge has ruled that extracts of documents the FAI has given to the ODCE are covered by professional legal privilege and cannot be used as part of the probe into certain matters concerning the association.
The president of the High Court has ruled only a redacted version of the first report of the inspectors investigating Independent News & Media can, at this stage, be disclosed to INM, the Central Bank, and others, including ex INM chairman Leslie Buckley.
Former INM CEO Gavin O'Reilly and former INM director of corporate affairs Karl Brophy have secured High Court permission to use, for further legal proceedings, materials provided to them during a hearing to appoint inspectors to INM.
Independent Senator Rónán Mullen has called for a State inquiry into the FAI's financial situation following former CEO's John Delaney's refusal to answer questions about a €100,000 loan he gave the organisation.
The response to the announcement that the Government is expected to strengthen and rename the agency entrusted with overseeing company law and investigating white-collar crime must be mixed; once bitten, twice shy, as it were.
While the new Corporate Enforcement Authority — to replace the Office of the Director of Corporate Enforcement (ODCE) — with more powers is to be welcomed, it is still not good enough for the attorney general to simply rule or advise that the report into the role of the ODCE in the matter of the Sean FitzPatrick IBRC trial should not be published due to “potential difficulties with the Companies Act and fears the file could reveal how the ODCE operates”.