Mr. Justice Michael Moriarty has issued a statement concerning media reports that he had shares worth half a million pounds in Cement Roadstone Holdings. This company was once chaired by Des Traynor, Charles Haughey's former financial adviser. The tribunal chairman said that he was precluded from inquiring into the controversial sale of lands, at Glen Ding in County Wicklow to CRH in 1991, because he had been a shareholder in the company.

The allegations are made in an article in the current edition of Magill Magazine, which is published today. Before today's proceedings began, Mr. Justice Moriarty said that he wanted to refer to media reports about his involvement in Cement Roadstone Holdings. He said that the most recent register of company shareholders identified 36,500 shares registered in his name. But, he said. as of this moment he held no shares in CRH. He instructed his brokers last week to sell them. And they were sold on Monday.

The Tribunal chairman said that, before he was appointed, he realised he could be perceived as having a conflict of interest if he was asked to inquire into the controversial sale of Glen Ding Woods in Wicklow to CRH in 1991. The company was chaired by Charles Haughey's former financial adviser, Des Traynor at the time. He informed the Attorney General of the matter who in turn told the Taoiseach and leaders of all the political parties.

The Attorney General subsequently informed him that his appointment on those terms was not a cause of concern to the parties. However, Mr. Justice Moriarty said that he was precluded from inquiring into any matters concerning Glen Ding and CRH because he had been a shareholder in the company. However, he said that he was not precluded from inquiring into banking activities conducted from Des Traynor's offices at Fitzwilliam Square.