Speculation is increasing that the long-awaited, in some quarters, dreaded in other quarters, report of the four inspectors investigating the Ansbacher deposits is nearing completion and may be submitted to the High Court next month.
The investigation began, on the initiative of the Tβnaiste Mary Harney, in September 1999 and was originally conducted by three inspectors. When Mr Justice Declan Costello retired a year ago, he was replaced by circuit court judge Sean O'Leary and Michael Cush SC. They joined original inspectors, Noreen Mackay and Paul Rowan.
O'Leary has indicated that he will return to the bench early next month. Although he has agreed to make himself available on a part-time basis thereafter, it is understood that his move indicates the report is almost completed. The inspectorate is independent of the Department of Enterprise, Trade and Employment and has been reticent in revealing details of progress to date.
The original three inspectors were appointed by order of the High Court on the application of the Tβnaiste and began their work investigating the 120 deposits identified by her Department's authorised officer, Gerry Ryan.
His report was never published. Last July, the chairman of the Revenue Commissioners, Dermot Quigley, said that 500 individuals, companies and trusts, had been identified as Ansbacher account holders and 40 had made payments on account to the revenue totalling £8m.
Meanwhile, arrangements are being completed to open the office of Corporate Law Enforcement which will take over the Tβnaiste's role in initiating inquiries like that into Ansbacher and National Irish Bank. The director, Paul Appleby, will be assisted by seven garda and 10 professional staff. The commencement order is due in the next few weeks.