The former chairman of Smart Telecom, who was also a former director of collapsed stockbroking firm MMI, has brought a High Court action for damages for libel in an Irish Mail on Sundayarticle about his involvement in the two companies.
The claim by Oisín Fanning against Associated Newspapers, publishers of the Irish Mail on Sunday, opened yesterday before Ms Justice Elizabeth Dunne and a jury, and resumes on Tuesday.
Mr Fanning (49), Fournaughts House, Johnstown, Naas, Co Kildare, is suing over an article which alleged he was engaging in a playboy lifestyle and claimed he had been charged with fraudulent conversion when he had not been.
The jury has been asked to assess what damages should be paid to him by Associated Newspapers, which printed an apology a week after the article first appeared admitting he had not been charged with fraudulent conversion.
Associated Newspapers, the jury was told yesterday, had admitted the article bore the meanings alleged by his side. However, the company is contesting Mr Fanning's claim that he is entitled to substantial damages.
Counsel for Mr Fanning, Paul O'Higgins SC, told the court yesterday the article was published on October 8th, 2006, under the headline "What a Smart Move, millionaire phone company founder quit before it crumbled". Counsel then read extracts from the article.
Mr O'Higgins said Mr Fanning became chief executive and chairman of Smart Telecom which got involved in litigation over its 3G licence. When the litigation was ending, Mr Fanning left the company as he had developed a tumour in his neck which later turned out to be benign.
After the article was published, Mr Fanning was "horrified and outraged" by its contents and sought an apology which was given the following week, counsel said. However, that apology was of little value to Mr Fanning, he said.