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(Continued from overleaf)
Last but hardly least, Du Cann informed shareholders (and Young) that the Government 'should consider carefully whether the Fayeds should be allowed to remain in this country.' In his words, if it is decided to expel them, they should first be held liable for the tax they have hitherto avoided during their long period of residence here.'
In Friday's 'Dear David' communication, Du Cann informed Young that he was not prepared immediately to part with all the copies of the House of Fraser report in Lonrho's possession and also took the opportunity to quote Lord Justice Dillon's recent declaration, in the Court of Appeal (which overturned the High Court's order for Young to refer the House of Fraser affair to the MMC) that there is a public interest that people in financial circles should know whether or not the principal shareholders who control a company as important as Fraser were fraudulent rogues.'
Rival newspapers -- particularly those whose financial journalists were gullible enough to accept the Fayed PR drivel -- may drip their sour grapes over their leader columns but, for my part, I am more than happy to go along with Lord Justice Dillon's perspective.
What The Observer published in part on Thursday and wants published in full at the earliest opportunity is a report compiled by two independent inspectors appointed by Young's predecessor Paul Channon. But why, one wonders, was Mohamed Fayed so eager to race for an injunction? And why, for that matter, has he insisted on receiving 72 hours notice of a decision to publish the House of Fraser report from the DTI?
The reality is that The Observer would not have played such a lone role in the House of Fraser exposé if Fayed, along with his advisers, had not consistently used the threat of litigation to deter those journalists who chose to adopt a critical stance.
My advice to Fayed and Young is: never forget the words of Judge Brandeis, the legendary American jurist. 'Truth should always be able to withstand the sunshine test.'
Sunny place, Egypt.
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