A Cayman Islands trust company linked to Mr Charles Haughey and Fianna Fail TD Mr Denis Foley, is to try to prevent Ansbacher Cayman Ltd giving information to High Court inspectors investigating the Ansbacher deposits.
Mr Barry Benjamin, who controls Hamilton Ross Co Ltd, one of the Cayman elements of the Ansbacher deposits structure, said yesterday he has instructed his solicitors to object to the handing over of the information - unless they believe there is no chance of success.
He also said documents he had seen, linked to the application from Ansbacher Cayman to the Cayman Islands courts, indicate that the Cayman bank is claiming it has very little documentation of value to the Irish inspectors. "They are almost saying they had nothing to do with it."
Ansbacher Cayman is to make an application to the Grand Court of the Cayman Islands on April 9th for permission to convey information to the High Court inspectors. The court move will be watched closely by a number of prominent and high-net-worth businessmen who have links with the deposits. Under Cayman secrecy laws it is an offence to hand over information without the permission of the local courts. Local legal sources have said an objection from an interested party is a significant development.
Mr Benjamin refused to comment when asked if he had consulted his Irish clients before deciding on this course.
"There's no knowing what they have," he said, referring to Ansbacher Cayman. "Because John Furze resisted in the past on behalf of clients, I probably will have to do the same thing."
In 1997, the late Mr John Furze opposed an unsuccessful application to the Cayman courts from the McCracken Tribunal. The tribunal asked that Ansbacher Cayman be instructed to co-operate with its inquiries. The bank took no part in the case.
Hamilton Ross formed part of the Ansbacher structure and was controlled by Mr Furze. He died in July 1997 and Mr Benjamin took over. Clients included Mr Haughey, Mr Foley, former Guinness & Mahon banker Mr Padraig Collery, and Mr Des Traynor's former secretary, Ms Joan Williams.
Mr Benjamin said he hoped the whole Ansbacher deposits controversy, which has been underway since 1997, might soon come to an end. "I'm hoping the clients themselves will take steps to end this. . . that they might just go to the government and come clean."
He said the climate in the Cayman Islands is changing and that co-operation with foreign jurisdictions regarding tax matters is likely to happen sooner rather than later.
He said he assumed Ansbacher was being pressurised to co-operate with the Irish authorities. "I appreciate Ansbacher's position but obviously I can't take that into consideration when I decide what to do."
Ansbacher Cayman manages companies and trusts on behalf of clients, and Mr Benjamin said he thought some of these legal entities could oppose the Ansbacher application without the identities of their beneficiaries becoming known. "I think the beneficiaries may not want this to come out."
Mr Benjamin has previously overseen the taking of money from clients' accounts to pay for legal costs incurred, without the knowledge of the clients. He has taken advice and has not since taken money from clients' accounts for such costs, he said.
