Oireachtas Joint and Select Committees
Thursday, 18 May 2017
Public Accounts Committee
Bord na gCon: Financial Statements 2015 (Resumed)
9:00 am
Catherine Connolly (Galway West, Independent) | Oireachtas source
There were a number of bad decisions, and I note the witness has referred to the downturn in the economy, but the Indecon report has highlighted very inadequate capital appraisal. It was not just about the downturn in the economy, bad decisions were made. There is a legacy from bad decisions. Various other properties that have no debts are then charged. As a result of the bad decisions, plus the downturn in the economy, the other properties are charged. AIB then moves in and says it is selling the golden egg, which is the Harold's Cross stadium. Is that essentially right?
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