Margaret Cunneen was the subject of an ICAC investigation. Credit:Daniel Munoz Ms Cunneen listened appreciatively as Mr McGuigan delivered an extraordinary spray against the corruption watchdog which in 2013 labelled him corrupt in relation to a mining deal which saw the family of corrupt power broker Eddie Obeid negotiate a $60 million payout for their 25 percent ownership of Cascade Coal, a private company of which Mr McGuigan was a director. Sydney miners listened as Mr McGuigan demanded a "full public judicial inquiry" into the recent ICAC hearings conducted by former commissioner David Ipp and present commissioner Megan Latham. He also claimed that "affected parties" in recent inquiries had lodged a litany of complaints with the Inspector of ICAC, retired Supreme Court judge David Levine, whom Mr McGuigan described as an "extraordinarily honourable man". Those complaints to Justice Levine, which Mr McGuigan said were of "extreme gravity", included the inducement of false testimony, threats to witnesses, deals with witnesses and the obtaining of evidence illegally. Mr McGuigan also suggested there was "interference by the ICAC commissioner in the executive arm of government" and that ICAC had planted evidence. This is understood to refer to the claim by the Obeid family that it was officers from ICAC who planted highly-confidential government maps during a raid on their office in November 2011.

Mr McGuigan also suggested collusion between the Baird government and ICAC over the retrospective legislation that was enacted to ensure that past corruption findings, including against himself, were not nullified by the High Court's April ruling that ICAC did not have the power to investigate the Cunneen matter. These "little fireside chats" about the retrospective legislation had taken place in "the darkened corridors of power", he told the mining club audience. This legislation validated all of ICAC's "previously illegal conduct and findings", said Mr McGuigan. This "included raids on Margaret Cunneen's house including taking private property from her and her kids. That's all now legal," he said. Then it was on to the Australian Competition and Consumer Commission which has recently commenced proceedings against Cascade Coal, Moses and Paul Obeid, Mr McGuigan and others alleging they engaged in cartel conduct. As he railed against the ACCC and its chairman Rod Sims, Mr McGuigan made no mention of his mate Greg Jones, who was in the audience.

ICAC heard that the colourful businessman had kept his shareholding in Cascade a secret because of his friendship with then mining minister Ian Macdonald. It was Mr Jones who told ICAC that inside information about the tender process from the Obeids was a "decisive" factor in Cascade going ahead with the joint venture with the Obeids and it was Mr McGuigan who conducted the negotiations, he said. There was only one question taken from the audience. It was from this reporter, who noted that Mr McGuigan had berated government bodies for their "cavalier attitude to the facts". She reminded Mr McGuigan on an interviewed with him on the May 2, 2012, in which he was asked to "categorically say" whether the Obeids had ever been shareholders in Cascade Coal. "No, it's a ridiculous suggestion," Mr McGuigan replied on that occasion.

Asked on Thursday why he had not told the truth, he paused before replying, "I don't recall the conversation, Kate, but if I didn't [tell the truth], you know, genuine apologies."