Accounts presented to a judge to show losses incurred by Paramount Publishing Group subsidiaries were yesterday blasted as 'convoluted' and at risk of treating the court like 'an idiot'. Mrs Justice Doreen Le Pichon refused to accept the accounts as evidence and insisted on seeing Paramount's annual company reports before considering a petition to reduce its share capital. 'For a reduction of capital and write-off of accumulated losses, you have to be very precise and account for every penny,' she told the Court of First Instance. 'You cannot afford to take a broad brush when asking the court to write off accumulated losses . . . in treating the evidence, I would expect the evidence to be fully accurate.' Moreover, the evidence - namely accounts showing cumulative losses of $202 million since 1991 to the present - had to be 'presented in a way which is relatively intelligible', Mrs Justice Le Pichon said. She had voiced concern over double-counting in relation to inter-company loans when examining the material presented by Paramount listing the losses of 16 subsidiaries. The figures given to the court in an affidavit were being referred to 'as if the court is an idiot and should read these as acceptable evidence', she added. The judge said she was concerned with the assertion by the company that its gross losses were $329.9 million, and that it then made account for dividends received from profitable subsidiaries and came to a figure of $202 million. Mairead Rattigan, for Paramount, said she accepted the judge's criticisms of the way the company's accounts had been exhibited, but she insisted the $202 million figure had no element of double-counting in it. Ms Rattigan said she would provide the judge with annual reports from Paramount within the next few days. The case was adjourned until September 16.