Property company Dunloe Ewart managing director Mr Philip Byrne was today charged in the Dublin District Court with breaches of the Companies Act 1990.
The charges relate to the disposal of shares in Dunloe Ewart by Mr Byrne in April and May 1997.
Mr Byrne was appointed managing director of Dunloe Ewart in September 1997.
In a statement released today by Dunloe Ewart, the company said Mr Byrne and Dunloe Ewart have at all times co-operated fully with the investigations in this matter, ongoing since November 1997.
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The statement said the board of Dunloe Ewart had unanimously confirmed its fullest confidence in Mr Byrne as managing director of the company.