INQUIRY: Two individuals are believed to be preparing attempts to block publication of their names in the final report of the High Court inquiry into the Ansbacher affair.

An action is thought to be imminent although there are indications that moves may have already begun. Such a development could delay publication of the report, which is believed to be almost complete.

To preserve their anonymity, it is expected that the individuals concerned will seek to have any hearing of their case conducted in camera. Such a condition - to exclude the public and media from the hearings - would have to be sanctioned in advance of the case by the High Court.

The identity of the individuals in question is not known although they have been described as "powerful". It is thought that a number of legal principles could be invoked to prevent the publication of names.

Up to 120 senior figures were identified in the investigation by an authorised officer acting for the Tánaiste, Ms Harney, that led to the establishment of the High Court inquiry.

The High Court inquiry has been under way since October 1999 and the final report of the inspectorate is believed to be very near completion.

In addition to those cited in the report of the authorised officer, Mr Gerry Ryan, it is thought that the High Court investigation has uncovered links between a large number of other figures and the secretive bank, Ansbacher (Cayman) Ltd.

It is unclear whether the report will be published before the general election next month.

But in an indication that the inquiry's work was nearing completion, the team began sending drafts of their specific conclusions related to individual clients of Ansbacher (Cayman) Ltd late last year.

Such people were given 21 days to respond to the draft conclusions.

The inquiry is said to have adopted a robust stance and it is thought that many clients have attempted through their legal advisers to persuade the inspectors to change the draft.

The inquiry is led by Judge Sean O'Leary of the Circuit Court and Mr Michael Cush SC. They replaced Mr Justice Declan Costello when he retired for health reasons in December 2000. The other inspectors are barrister Ms Noreen Mackey and accountant Mr Paul Rowan.

A spokeswoman for the inquiry declined to comment on any aspect of its affairs. The Director of Corporate Enforcement, Mr Paul Appleby, also declined to comment on any aspect of the investigation.

Registered in the Cayman Islands, Ansbacher (Cayman) Ltd was used by individuals to hold money offshore through use of coded accounts held at Guinness and Mahon Bank in Dublin.

The High Court established the inquiry after hearing that the system was set up to defraud the Revenue. Clients included the former taoiseach, Mr Charles Haughey, and a number of wealthy business figures.