Central Bank is not proceeding with ODCE application related to INM, court told

The Central Bank of Ireland has told the High Court it is not proceeding with an application relating to proceedings in which the State's corporate watchdog is seeking the appointment of inspectors to Independent News and Media .

The nature of that application was not identified when the matter was mentioned briefly before the High Court on Thursday but it is understood the Central Bank was considering seeking access to the documents related to the application by the Director of Corporate Enforcement, Ian Drennan (ODCE).

The President of the High Court, Mr Justice Peter Kelly, noted the application was not proceeding. He was also told by Shane Murphy SC, for INM, that lawyers for The Irish Times had written to the company stating it was not bringing a formal application concerning access to documents.

The ODCE application arose from protected disclosures made by former INM CEO Robert Pitt and INM chief financial officer, on dates in 2016 and 2017. In seeking inspectors, the ODCE has expressed concerns that data of 19 people, including journalist Sam Smyth and former INM Irish operations head Joe Webb, may have been accessed by third parties when back-up tapes were removed from INM's Talbot Street premises over a period from October 2014.

That matter is being investigated by the Data Protection Commissioner and is among the grounds for the ODCE’s application for inspectors.

Other grounds include concerns about corporate governance at INM. INM opposes appointment of inspectors and is seeking a judicial review, to be heard on May 9th, aimed at quashing the decision of the ODCE to seek inspectors.

It maintains it is fully co-operating with the DPC investigation and there are no grounds for appointment of inspectors.

The ODCE application will proceed only if INM loses its judicial review. Mr Justice Peter Kelly last week approved an arrangement agreed by INM and ODCE governing access by various parties to sworn documents and exhibits for the ODCE application.

Some of the documents will be redacted, subject to any further order made in the context of INM’s claims of legal privilege over some material. The judge also directed the ODCE and INM should resolve between themselves INM’s concerns about making available commercially sensitive information.