Letters • February 8 2004

Price Club reports damaging to our client

Dr Tonio Azzopardi
Dr Stefan Frendo
Ganado and Associates
Valletta

We act on behalf of Deloitte & Touché of 1, Col. Savona Street, Sliema. Reference is made to the articles published in your newspapers and to the publicity that is being given to the Priceclub saga. This publicity appears to originate from a report filed by Mr John Zarb of PricewaterhouseCoopers in the cases:
Dr Andrew Borg Cardona noe vs. Victor Zammit et (Rikors 26/03)
Dr Andrew Borg Cardona noe vs. Victor Zammit et (Rikors 27/03)
Certain aspects of this report indirectly cast doubts on our clients’ audit opinions in respect of the accounts of Price Club Operators Limited for the periods ended 31 December, 1998 and 1999 and are thus damaging and prejudicial to our clients in the case instituted against them by Valle Del Miele Ltd.
Given the prominence that your newspapers are giving to this issue we draw your attention to the fact that the above captioned report is in many respects, particularly in so far as it relates to the audited accounts in question, subjective and misleading. In this respect our clients are considering what action should be taken to safeguard their interests.
We also draw your attention to the fact that the above-mentioned cases are still ‘sub judice’ and accordingly our clients cannot comment in any way on the contents of the report submitted as evidence submitted in the case. In this respect the articles published in your newspapers are highly prejudicial to the proper administration of justice. The publicity being given by your newspapers to this matter verges on contempt of court. In effect, this is tantamount to trial by the media. The facts of the case should be given the opportunity to merge correctly through the courts of law.
In view of the above, you are hereby being called upon to desist from publishing further articles which are prejudicial to our clients. In default, our clients reserve the right to take whatever action they deem fit.