Monday 26 August 2019

INM inspectors 'generate €550,000 in fees'

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Shawn Pogatchnik

The two inspectors investigating alleged corporate governance violations at Independent News and Media have generated €550,000 in fees since their High Court appointment nine months ago, the Office of the Director of Corporate Enforcement (ODCE) said yesterday in its annual report.

ODCE director Ian Drennan said his investigators spent 15 months probing the INM allegations and concluded that further progress required "deployment of the more powerful investigative tools reserved by law to court-appointed inspectors, specifically … the powers of compellability and examination of relevant persons under oath".

The inspectors, Sean Gillane SC and Richard Fleck CBE, presented initial findings to the High Court on April 11 and "are continuing their investigations", Mr Drennan said.

The ODCE said it disqualified 31 company directors and restricted 150 others in 2018.

Irish Independent

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