04 January 1999
Action against Powerscreen three delayed

LEGAL action has been delayed against the directors of Powerscreen, the Northern Irish farm engineering company thrown into disarray last year by major accounting irregularities.

Herbert Smith, the law firm advising on whether action should be taken, was supposed to have reported by Christmas on the potential of legal proceedings.

But any decision has been pushed back to this month at the earliest.

The former directors who could be targeted by Powerscreen are Shay McKeown, the former chief executive, Pat Dooey and Barry Cosgrove.

The Serious Fraud Office is investigating accounting irregularities.

  • The Times 04/01/99 page 43