A leading stockbroker may yet be called as a witness in the ongoing Fyffes/DCC insider dealing case at Dublin’s High Court.
DCC is considering making an application to the High Court to add Roy Barrett, managing director of Goodbody Stockbrokers, to its list of witnesses. It follows a decision announced last week by Fyffes not to call the stockbroker as a witness.
Barrett spoke to DCC chief executive Jim Flavin around the time of the controversial sale of 31 million shares between February 3 and 14, 2000.
Goodbody was the company that found buyers for about two thirds of the shares.
According to reports, last December, Barrett's role in the events led to confusion over whether there was evidence that Flavin was directly involved in agreeing commissions to stockbrokers for the share sales.
Counsel for Fyffes, Paul Gallagher SC, told the court that he believed Barrett would give evidence to that effect.
Counsel for DCC, Kevin Feeney SC, said he understood that Barrett would say he had no recollection whatsoever of any such agreement.
Linking Flavin to the share dealing is crucial to the Fyffes case against Flavin.
The case will fall apart if Fyffes cannot prove that Flavin played an active role in dealing the shares.
The case continues.
