The founder of Master Meat Packers, Mr Paschal Phelan, told the High Court yesterday he had learned that an investigation carried out by chartered accountant Coopers & Lybrand into the company in 1987 had later been paid for by Mr Larry Goodman.

He had been unaware of that at the time, Mr Phelan said.

The investigation had been suggested by Mr Zacharia El Taher, a Middle Eastern businessman whom Mr Phelan understood to be his then partner in the company, Mr Phelan said.

He had understood the point of the investigation was to assist Mr Taher in forming an opinion as to the value of the group, with a view to selling his 50 per cent shareholding to Mr Phelan.

Mr Phelan said he had overridden the views of others in Master Meat Packers regarding the investigation, and had said it should go ahead.

The case continues today before Mr Justice Murphy.