Comment/Bill Murdoch: After all that high-protein diet, how about a change? What about a finance package with a diverse menu; consisting of questionables, stick-in-the-muds and goodies. They are not, of course, compatible bed partners, but they all fitted into 2003.

Isn't it bizarre that two of 2002's many questionables, Bula Resources and SkillSoft (then mostly known as SmartForce), still loomed largely in 2003? The loose ends should have been tied up in 2002 but not so - they are, lamentably, still with us.

How do they differ? Bula is generally the same; SkillSoft is an extension, with a stingy difference.

It would and should be easy to forget Bula; wasn't it just one of those many high-hope, high-aspiration, exploration companies? There is, however, a difference.

It has one of the largest number of shareholders for a small company - 40,000 to be precise. Also, it had a former Taoiseach, Mr Albert Reynolds, as chairman during a crucial and difficult time, until he decided not to go forward for re-election at an angry annual general meeting.

Thirdly, there was a questionable deal under which a refundable deposit of €1.5 billion was paid as part of a share deal with two Libya-linked companies, connected to the Ghadaffi International Charitable Foundation.

The unfortunate Tim Torrington, who took over as managing director, made what must have been one of the greatest understatements of the year: "I would regard Bula as dead: it's most unlikely to come to life," he told the Sunday Times.

But a very welcome development (not confirmed as the Office of the Director of Corporate Enforcement (ODCE) does not talk about individual cases) has been the establishment of an investigation into the company by the ODCE, following complaints from aggrieved Bula shareholders seeking the return of that €1.5 million.

There have been no allegations of wrong doing by either the company, or Mr Reynolds, but isn't it refreshing that the investigation is taking place - after all, someone has to be brought to account for that €1.5 million.

The other questionable is e-learning company SkillSoft. The shareholders must be wondering why there is never any closure on this battle-scared group. Considering the spate of shareholder actions and investigations, including a payment of $44 million (€35.8 million) for alleged theft of trade secrets, it is surprising that it continues to restate its accounts. (In October, it admitted it had overstated its profits by up to $128 million in the three years to 2002.) Also, the recent settlement to its shareholders, while obviously legitimate, has to be questioned.

Now it has agreed to pay $16 million to settle a class-action lawsuit (its insurers are to pay an additional $16 million) in connection with a 1998 action alleging that SmartForce had defrauded shareholders by making untrue statements of material fact to induce people to purchase its shares. A number of directors were named in the suit, including Bill McCabe, who founded the company but is not a SkillSoft director, and Greg Priest, the former chief executive of SmartForce and SkillSoft's chairman and chief strategy officer.

It is a practice in the US for companies to indemnify directors against such actions. However, it would be much more equitable for directors to indemnify themselves; with such an onus, wouldn't directors be more vigilant - particularly if those directors made substantial capital gains out of those share sales?

Yes, the US is litigation mad, a practice aped here, and, not surprisingly, SkillSoft is facing another class action in relation to an alleged misstatement of financial information following the merger with SmartForce last year. An indemnity is also in force for this action. That sort of board action hardly breeds confidence.

What about the stick-in-the muds? There were plenty of them in 2003 (maybe I should have picked Barlo - just why should that company be publicly quoted?) but Unidare came out of the hat for special mention.

It must be one of the most disappointing groups on the Irish Stock Exchange. Plans to make it meaningful did not work. And the going-nowhere share price reflected that.

Paul Duggan, who steered the company from 1994, was made redundant last year but, following a High Court settlement in May, remains an employee (but not required to be in his office) for 12 months.

Improvements were expected but there have been none. Results to September 2003 showed a fall in pre-tax profit from €7.3 million to €4.4 million and a drop in earning per share from 15.07 cent to 12.02 cent.

No joy is expected for the next interims but cautious optimism for the next full year. We shall see. It capitalised at around €22 million in the middle of last month.

Unidare should look for a buyer to take its shareholders out of their misery.

In contrast, there were plenty of goodies. Too numerous to mention here and they have been well recorded, but Anglo Irish Bank showed yet again it is the top Irish banker.

Canada Life thrilled its policy holders as did First Active with the high price it got for its shareholders.

The Revenue Commissioners accelerated its pursuit of tax wrong doers under a whole host of categories. And a healthy development has been the formation of a support group to establish if they have a case against banks that allegedly encouraged customers to set up bogus non-resident accounts.

Frank Daly, chairman of the Revenue Commissioners, was, of course, correct when he told the Dáil Public Accounts Committee that the holders of these accounts must be answerable, regardless of any encouragement by the banks.

But equally, banks had a duty of care and must account for any illegal advice they gave to enhance their profitability. Then, and only then, will justice have prevailed.