Help of Cayman Courts sought
The Irish Times (Ireland)Thursday, June 8, 2000
The inspectors investigating the affairsof Ansbacher (Cayman) Ltd are seeking the help of the Cayman Islandscourts in their efforts to identify Irish residents who used fundsin certain Ansbacher accounts.
The High Court heard certain records of Ansbacher's "Irishbusiness" which were in the possession of the late Mr DesTraynor were destroyed after his death and the inspectors requiredaccess to the Ansbacher (Cayman) records.
Mr Michael Cush SC, for the Ansbacher inspectors, said there wasa clear indication of attempts to conceal matters and a "levelof secrecy" which had led the inspectors to conclude theyneeded the help of the Cayman courts.
Mr Justice Quirke granted an application by the three inspectorsthat a letter be sent to the Grand Court of the Cayman Islandsrequesting it direct the examination on oath of officers of Ansbacher(Cayman) and asking that documentation relating to Ansbacher's"Irish business" be produced.
The inspectors want to examine officers of Ansbacher (Cayman)and also
want to see documents relating to discretionary trusts held bythe bank and discretionary trusts held in Channel Islands accounts.
The inspectors are seeking Ansbacher records which would establishwho were the directors, managing directors and the chairmen ofAnsbacher who assisted in the carrying on of "the Irish business"of that bank from its incorporation in the early 1970s to September1999.
The inspectors are asking for records which identify any Irishresidents who deposited funds with Ansbacher in the Cayman Islandseither directly or through banks other than Guinness and MahonLtd.