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INM will not appeal High Court ruling on inspectors

Inspectors appointed by the High Court will begin investigating the affairs of Independent News and Media
Inspectors appointed by the High Court will begin investigating the affairs of Independent News and Media

Inspectors appointed by the High Court will begin investigating the affairs of Independent News and Media immediately after the court was told the company does not intend to appeal their appointment.

On Tuesday, the High Court President agreed to appoint inspectors to investigate INM after an application by the Director of Corporate Enforcement.

Mr Justice Peter Kelly said that what was alleged to have happened at the company was "very serious indeed".

He agreed to postpone making his final orders until today to allow INM to consider his judgment.

This morning, lawyers for INM told the court there would be no further application, meaning the company does not intend to appeal the ruling.

Senior Counsel Seán Gillane and UK lawyer Richard Fleck will begin work immediately.

The costs of the proceedings were awarded to the ODCE against INM.

In a statement, INM said that it "intends to co-operate with the inspectors and assist them in the efficient execution of their inquiry".