Yesterday, shortly before noon, the Today programme was the first to bring you news of the collapse of the trial of former Anglo Irish Bank Chairman and Chief Executive, Sean Fitzpatrick. RTÉ’s legal affairs correspondent, Orla O’Donnell, painted a vivid picture of the proceedings in court, and the quite damning verdict of Judge John Aylmer in relation to how the case was handled by the Office of the Director of Corporate Enforcement.

Predictably, the reaction to the dismissal of all charges has ranged from dismay, to exasperation, to outright fury, particularly on social media. This morning, speaking to the Today programme presenter, John Murray, corporate governance expert, Professor Niamh Brennan, gave a more measured assessment, but her own dismay at the handling of the case was clear.

“It’s not a good day for the Office of the Director of Corporate Enforcement. I hope that lessons will be learned from these events.”

According to Niamh Brennan, white-collar crime is extremely difficult to prosecute, and requires a level of expertise that must be recruited, adequately reimbursed, and properly resourced. And given Judge John Aylmer’s assessment of the way this particular investigation was carried out, that expertise seems decidedly missing.

“White-collar crime is extremely difficult to prosecute. Especially when it's a big case. There is some suggestion that the ODCE goes after the small person, but doesn’t go after the big person, because it is cheaper to go after the small person, and you are more likely to get a successful outcome.”

These cases, said Prof Brennan, “require a significantly higher quality of people to pursue cases of that complexity and sophistication.”

Would she recommend dismantlement and replacement?

“Absolutely not. The office has already been successful. It can point to a record of systematic success since 1997, in the days when only 13% of companies filed their annual reports on time. In the hysteria after this case, the knee-jerk reaction, I would not throw the baby out with the bathwater.”

Also speaking to John Murray about the developments over the last 24 hours was Fianna Fáil Jobs Spokesperson, Niall Collins, who has said that fundamental questions arise for the ODCE.

To listen to the full interview, click here.