Updated 17:10

The High Court has approved the appointment of two inspectors to investigate the affairs of Independent News and Media.

The country’s corporate watchdog, the Office of the Director of Corporate Enforcement (ODCE), had made the application after raising concerns about certain matters within the company.

Independent News and Media (INM) had argued against the appointments – saying it could have negative consequences on the company.

Mr Justice Peter Kelly took over an hour and a half to read out sections of his 76 page judgement this afternoon.

He addressed allegations that the personal data of 19 journalists had been improperly accessed and warned that a free press is the cornerstone of a functioning democracy.

He said there were a myriad of issues within INM to which the answers are unknown and warned that considerable mystery surrounds a number of them.

He later said there may be a complete explanation for the concerns raised but if not - what was alleged is very serious.

In his concluding remarks, Judge Kelly noted that the appointment of inspectors to a company is a serious matter, adding that, “such a sledge hammer should not be used to crack a nut.” 

“What has been disclosed in the evidence before me is no nut,” he said.

“The appointment of inspectors to ascertain the truth of what has allegedly gone on in the company is well justified and is not disproportionate. 

“None of the issues raised by the company warrant the court exercising its discretion against making the order sought. 

“It may be that there will be a complete explanation for all of the Director's concerns, but if there is not then, to borrow the language of the independent reviewers, what is alleged is very serious indeed. 

“The evidence merits the appointment of inspectors and that is the order I make."

INM has asked for time to consider the judgment and Mr Kelly postponed making his final order.

The court will sit again later in the week.