The judge used that test to determine whether Flavin was in possession of price-sensitive information at the time of his controversial trade in Fyffes shares in 2000. No fresh substantive evidence can be introduced in the appeal, which may not come before the Supreme Court for a year.

The decision to appeal, on the recommendation of Fyffes' team of senior counsels Paul Gallagher, Paul Sreenan and Brian Murray, was announced on Friday. It is understood to have been made nearly a fortnight ago, but the announcement was delayed until the judgment was perfected.

News of the decision immediately impacted the DCC share price. The company closed down by 3.4% on Friday, at 18.5, while Fyffes fell marginally. Analysts said the decision would not impact their forecasts for either group, as the awarding of costs would be considered an exceptional item . . . expected before Friday's announcement to come through sometime in 2007.

In February, Judge Laffoy ruled that the costs of the original case . . . estimated at about 20m . . . should be split 80:20 between Fyffes and DCC. She found DCC should be liable for 20% of the costs because of its decision to contest whether Flavin had dealt the shares "added considerably to the complexity and duration of the case".

At the time of her December judgment, it was expected Fyffes would not appeal, but in recent weeks management had hinted that internal sentiment had turned. Views were mixed on Friday on the appeal's merit. "I am not sure to what extent Fyffes can benefit, " one analyst said.

DCC's response was that the appeal will be "challenged vigorously and comprehensively".