Court told Denis O'Brien was wrongly included in newspaper article's 'gang of 22'

There were no “red” or “green” or “even orange” distinctions drawn, he said.

Mr O’Brien was included even though the articles, published on March 15 2015, noted he had paid off his loans to Anglo and was among Bank of Ireland and AIB’s best customers, he added.

Mr O’Brien had dealt with his bank borrowings in a way that had none of the consequences which the SBP claimed arose from borrowings of the “gang of 22”, he said.

Counsel said the word “gang” means a group of people usually acting together who are “up to no good” and this was not language used to give the impression of “something neutral”.

When lawyers for Mr O’Brien wrote to the SBP complaining about the articles and asking why he was included in this “gang”, they were told he was among a “group” of 22 people referred to in a “Top Exposures” section of a report compiled by Price WaterhouseCoopers for the Government at the time of the financial crisis in 2008, counsel outlined.

Mr O’Brien was not happy with that response and ultimately initiated defamation proceedings.

In those proceedings, he claims the articles complained of had several meanings, including he was a member of a gang who had destroyed Ireland and bankrupted its banking system.

In its defence, the SBP has denied the articles mean what Mr O’Brien alleges.

It also denies there was malicious publication or that, as a result of the articles, Mr O’Brien’s reputation was damaged or that he was exposed to odium, ridicule and contempt.

The defence also pleads “fair and reasonable publication on a matter of public interest” but Mr O’Brien disputes that and contends it was not fair or reasonable to publish the articles in the manner they had been published.

Mr O Braonáin said the defence has not pleaded that the alleged meanings that Mr O’Brien attributes to the articles are true. This meant, for example, if the jury found the articles meant he was one of the “developer kings” who “destroyed Ireland and bankrupted its banking system”, that meaning was false

Counsel is continuing his opening of the action by Mr O'Brien against Post Publications Ltd, publishers of the Sunday Business Post (SBP), over a number of articles published in the newspaper on March 15 2015.

He was in court today as the action resumed before Mr Justice Bernard Barton and a jury. The jury was told Mr O'Brien is seeking "substantial" and aggravated damages over the alleged defamation.

The case concerns articles published in the SBP on March 15 2015, including a front page article which referred to a "secret" report by Price WaterhouseCoopers (PWC), called "Project Atlas", into Ireland's banks.

The article was headlined "22 men and €26bn" and the subheading was: "The secret report that convinced Cowen the banks weren't bust."

Above the headline was a stamp with the word "Confidential" and a strapline, "The files they don't want you to see". Beside the headline, and below the words "Top Secret" was a list of names, including Denis O'Brien's.

Mr Ó Braonáin has told the jury the world economy went bust in 2008, Irish banks were guaranteed and later bailed out by the State and those events were part of the focus of the articles which particularly addressed Project Atlas.

He said a front page article stated the PWC report "shows how just 22 men ended up owing €25.5bn to their banks" and meant Mr O'Brien was one of the 22.

It was Mr O'Brien's case that and other articles identify the 22 with the downfall of Ireland and the bankruptcy of its banking system and mean certain things that injure Mr O’Brien’s reputation, he said.

The case continues.