A former part-owner of the now defunct Dublin Gas Company yesterday sought a court order to allow him inspect the work carried out by the company's receiver over the past 13 years.
Mr Donal Kinsella, of Wood park, Dunleer, Co Louth, who owned 23 per cent of Dublin Gas, blamed the government of the day for "essentially creating the conditions so that the company could be put into receivership and/or effectively nationalised".
Mr Bernard Somers was appointed in 1986 by the semi-State company, Bord Gais Eireann, to act as receiver to Dublin Gas.
At the end of yesterday's High Court hearing, Mr Justice Budd asked the parties to discuss whether information could be exchanged. Earlier, he was told they had failed to agree what information might be given.
Mr Michael O'Donnell, for Mr Kinsella, said his client had difficulty understanding what had happened in the receivership and wanted to know what were the prospects of the receivership coming to an end after 13 years.
Counsel said the State, with all its powers, had organised for his client's assets to be put in the hands of the receiver and he was seeking information about that.
Mr Justice Budd said Mr O'Donnell was painting a picture of a small David facing two Goliaths and having his sling taken away and hands tied behind his back by legislation.
Mr O'Donnell said his client had invested £300,000 in 1982, which was then an enormous sum of money. In an affidavit, Mr Kinsella said Dublin Gas was a public company which had been wholly-owned by private shareholders until 1984 when the Government took a substantial share.
The company's major asset was its substantial gas pipe network in Dublin city, estimated in 1986 to have a replacement value of £160 million. The company also had plant and buildings, and some of these landholdings were in areas now desirable for development and worth a lot of money.
Mr Kinsella said natural gas was found in commercial quantities off the south coast in 1973 and Bord Gais was set up under government control.
He had acquired 400,000 shares in Dublin Gas on the basis of its potential for growth and his plans to develop the company. It was necessary for the company to extend its pipe network and agreement was reached with institutional investors and Bord Gais for funding.
The company remained independent in law but, in practice, it became a joint undertaking with the government.
In 1985, oil prices fell and Dublin Gas required a drop in the price of gas payable to Bord Gais. Despite an agreement to cut gas prices, there was no reduction in the price paid by Dublin Gas.
In refusing to alter the supply agreement, the government was deciding the company would be put into receivership and/or effectively be nationalised, he said.
The hearing is due to resume today.