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Tue 12 Dec 2009DCC report to go to corporate enforcer
THE REPORT of an inspector appointed to investigate unlawful insider dealing by DCC plc and its former chief executive, Jim Flavin, is to be given to the Office of the Director of Corporate Enforcement (ODCE) before it is circulated any further, the Commercial Court has heard.
The report, presented to Mr Justice Peter Kelly last Friday, relates to the €106 million sale of DCC’s stake in Fyffes in 2000. It followed court findings about these activities, which resulted in DCC paying Fyffes more than €37 million in damages. The report’s findings could provide the basis for disqualification proceedings against any persons involved in the share sales.
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