Anglo investigation could take two years, court told

IT could take up to two years before the completion of any criminal prosecution arising out of the investigation into the affairs of state-owned Anglo Irish Bank, the Commercial Court heard yesterday.

Paul O’Higgins, counsel for the Director of Corporate Enforcement, said no charges had been brought yet and it was likely to be a year or two before any prosecution is completed, including any appeal which may be taken.

Mr O’Higgins was speaking after the court heard Anglo has agreed to limited disclosure in relation to its previous assertion of legal privilege over some electronic documents seized by the director as part of his investigation into the bank.