Oireachtas Joint and Select Committees

Thursday, 18 May 2017

Public Accounts Committee

Bord na gCon: Financial Statements 2015 (Resumed)

9:00 am

Mr. Pat Creed:

The bank debt has changed dramatically in the last four weeks. Four weeks ago, we had a bank debt of €20-odd million and had no idea what the realisable value of the sale of the asset was. We now have a sale of an asset, pending process, of €23 million. I am sure the bank will take a different view on it now on the basis of sales proceeds, but discussions are ongoing at this point in time.

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