The man jailed for the murder of solicitor Pat Finucane in 1989 could soon be released from prison under the terms of the Belfast Agreement.
The Sentence Review Commission, which rules on the release of paramilitary prisoners, has been conducting a three-day investigation into the case of Ken Barrett (43), who was jailed for at least 22 years in September 2004 having pleaded guilty to the murder.
Mr Finucane was shot dead in front of his family.
Jailing Barrett, Mr Justice Weir described the "cruel and callous" murder as a "terrorist killing carefully planned and mercilessly executed". He said at the time he was "not unaware" that Barrett could apply for early release under the terms of the agreement but this was "entirely outside the control of the criminal courts".
Barrett was transferred from a prison in England to Maghaberry prison in Co Antrim in February 2005, where it is understood he has been kept largely in solitary confinement for his own safety.
If the commission believes Barrett is no longer linked with loyalist paramilitaries and does not pose a threat to the community, he could be freed on licence.
Were he to reoffend, he would have to serve the remainder of his sentence by order of the Northern Secretary.
This power has already been exercised in the case of Shankill bomber Seán Kelly, who received nine life sentences for the 1993 attack. He was released, jailed and then re-released last summer.
A decision is expected before the end of the month.