Material on directors’ loans to form part of Anglo probe

AN arrangement between Anglo Irish Bank and the Director of Corporate Enforcement means certain materials seized for the director’s investigation into the bank, including emails related to directors’ loans, may be used by the DPP when preparing any prosecutions arising from the investigation.

Mr Justice Peter Kelly yesterday made the arrangement part of a High Court order which also provides that public disclosure of the material by any person to whom it is shown in the context of actual or contemplated prosecutions, will be contempt of court.

The agreement by Anglo to partly waive its privilege claim over a certain amount of electronic material seized, including internal emails related to directors loans, is likely to result in a speedier investigation of Anglo as it will make available considerably more material to the ODCE and consequently the DPP.