Mr Justice Flood has defended the media's right to act as "the eyes and ears of the public" and report on the tribunal as it sees fit.
He was responding to criticism by lawyers for auctioneer Mr John Finnegan of media reporting of their client's evidence.
Mr Dominick Hussey SC, for Mr Finnegan, said the tribunal had clarified on a number of occasions that no allegations were being made against his client. Yet this was not the way matters had been relayed by the press and this was not the way the public perceived the situation.
Mr Hussey made his remark when arguing that the names of people with whom Mr Finnegan had business dealings should not be disclosed in public evidence, to respect their right to privacy.
The names appear in a statement by Mr Desmond Turvey, an accountant in Mr Finnegan's office, who is to give evidence later this week.
Mr Turvey made handwritten notes on the bank statements of Foxtown Investments, an offshore company belonging to Mr Finnegan, which appear to show that the auctioneer invested various sums in a series of land deals with the builders Brennan and McGowan.
This is the only documentary evidence that shows Mr Finnegan invested in the transactions; Brennan and McGowan say he put in no money.
Mr Finnegan received over £660,000 offshore from the six transactions in the 1970s and 1980s. The tribunal is investigating the matter because a payment of £60,000 was made to the politician, Mr Ray Burke, from the last of those transactions.
Mr Pat Hanratty SC, for the tribunal, said most if not all of the people featuring in Mr Turvey's statement had already been named. Deleting the names would restrict the evidence.
Mr Justice Flood said it was appropriate that Mr Turvey's evidence be heard in its entirety. He could see nothing wrong with mentioning the names.
Mr Justice Flood said he did not wish to criticise the press in any way. They were "the eyes and ears" of the public at all times and it was up to them to act as they saw fit.
If they exceeded their remit, someone else would undoubtedly take them on, "but I'm not their critic or their controller", he said.
Earlier, Mr Hussey advised the tribunal that his client had begun proceedings in Guernsey to obtain access to his trust documents. An interlocutory hearing was due before the court on Friday. That might "dispose of" the matter, he said, unless the administrator of Mr Finnegan's trust, Credit Suisse Trust, opposed the application. Up to now, Credit Suisse has refused to release the documents, according to Mr Finnegan.
Mr Hanratty said the tribunal intended to engage lawyers in Guernsey to act as a notice party to the proceedings.
