One thing seems pretty clear from the outcome of the acquittal of former Dunloe Ewart managing director Philip Byrne of insider dealing: it will be some time before the State embarks on a second criminal case of insider dealing.

Likewise, given the way the Philip Byrne case ended, the chances are that the Garda Bureau of Fraud Investigation is unlikely to devote its limited resources unless it is absolutely certain that it will get a conviction.

And there is one other likely result from the Philip Byrne case: Irish fund managers are unlikely to be in any mad rush to become expert witnesses, for either the prosecution or defence, given the cross-examination of Standard Life's Des Doran during that case.

Mr Doran was asked by the Stock Exchange's Kevin McHugh to advise the Irish Stock Exchange on the status of Mr Byrne's sale of 260,000 Dunloe shares. Mr Doran's conclusion was that Mr Byrne had insider information when he sold the shares and told the court: "If I had been in possession of that information I would have deemed myself to be an insider."

But when Paul Gallagher SC for Mr Byrne began questioning Mr Doran, one of his main weapons was to attack Mr Doran's credibility as an expert witness, and according to those who attended the proceedings his attack was devastating.

He laid great emphasis on Standard Life's less-than-stellar investment performance over the past five years and cited a Coyle Hamilton report that had Standard as 15th out of 15 over the past five years. Not content with that, Mr Gallagher threw in a recent ad from Eagle Star that had Standard in fifth place out of five over the past 10 years.

The same Paul Gallagher SC (and fellow Law Library hot shot Dermot Gleeson SC) will be representing Fyffes in its civil insider action against DCC and Jim Flavin over the sale of DCC's stake in Fyffes two years ago.

Given the way he questioned Des Doran's credibility as an expert witness in the Philip Byrne case, it would be a brave fund manager that would volunteer his services as part of Jim Flavin and DCC's defence to the Fyffes action.