A Cayman Islands court has ruled that confidential information concerning the Ansbacher deposits should be given to the Irish authorities but not the identity of any of the depositors.
In a ruling delivered yesterday the Chief Justice of the Cayman Islands decided it would be unfair to give depositors' names to the Irish High Court inspectors investigating the Ansbacher deposits, when it has not been shown or even alleged that they had committed any crime.
However it is likely the ruling will be viewed with dismay by Irish depositors whose affairs are already known to the inspectors and who can be linked to specific financial details which are now to be disclosed.
This will be particularly so for residents who are currently involved in settlement negotiations with the Revenue Commissions. At least two of the objectors who opposed the release of information by the Cayman bank - Cayman trust companies Hamilton Ross Co Ltd and Poinciana Fund Ltd - did so for this reason. They did not want fresh financial information concerning their clients coming into the possession of the Revenue prior to settlements being concluded.
