The High Court in Dundalk has been told that a reference in the Ansbacher report to property developer John Byrne which claimed that he "at all times" had available to him the funds of a trust established under the law of the Cayman Islands was "squarely, unambiguously and outrageously inconsistent with the findings that he was truthful".
The comments were made by Paul Gallagher SC, for John Byrne (85), Simmonscourt Road, Ballsbridge, Dublin, during a judicial review of the findings relating to Mr Byrne in the report of court-appointed inspectors into the affairs of Ansbacher (Cayman) Limited.
The proceedings are against the inspectors who compiled the report - Judge Seán O'Leary, Noreen Mackey, Paul Rowan and Michael Cush.
Shortly after the publication of the Ansbacher report Mr Byrne sought leave to seek orders quashing the findings that refer to him.
Mr Gallagher told Mr Justice Paul Gilligan yesterday that in the report the inspectors said they found Mr Byrne to be "both a truthful and reliable witness and fully accept his evidence". If that was so, Mr Gallagher said, to find that he had controlled the trust did not follow, as that was totally contrary to the evidence given by Mr Byrne and he was not given an opportunity to respond.
Shane Murphy SC, for the respondents, said that the inspectors did not regard Mr Byrne as dishonest or untruthful but they must look at all of the evidence. There was a difference between accepting factual testimony and drawing conclusions from it.
The hearing continues this morning.