Oireachtas Joint and Select Committees

Thursday, 23 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Joe O'Reilly:

Well, I think the contrary is the reality. I mean, first and foremost, in ... I'll remind the Deputy that there was a planning permission in 2000 that actually demolished those four buildings so, when we came along, applied for planning permission, we acknowledged that those four buildings were to be kept. We only actually took possession of those four buildings in ... I think it was approximately, and I'm not ... and this is approximate, Deputy, we took possession of those four buildings in 2008, approximately 2008, right? So, when we took those ... when we took possession of those, the roofs were ... had caved in. We had an enormous amount of money and NAMA supported us in spending money to bring those buildings and to stabilise and maintain those buildings and we've maintained them since. And what is ... as you know, the State is buying, or purchasing those buildings.

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