A "complete shambles" is how a key witness at the Finbarr Ross trial in Belfast yesterday described the state of accounts belonging to International Investments Ltd.
The jury at the trial of the ex-inancier was told how a document, namely an approximate state of affairs, alleged an estimated £1.859 million funds was available to creditors who were owed £7.325 million.
Mr Timothy Revill, a partner in a chartered accountancy firm in Gibraltar, confirmed to the prosecution that, in April 1984, he was approached by Mr Ronnie Vincent to carry out an audit for International Investments Ltd.
He told the jury how he agreed to have "a provisional look at the accounts" prior to deciding whether his company would carry out the audit. The witness described what he was provided with, as a "complete shambles, boxes and boxes of selected records in no particular order".
"It certainly became apparent that the company was insolvent. This was due to its inability to meet its day-to-day debts," Mr Revill said.
"It was quite clear that the company could not pay depositors wanting their capital back." Mr Arthur Harvey QC, for the defence, is expected to begin his cross-examination of the witness when the hearing resumes this morning.
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