Oireachtas Joint and Select Committees
Thursday, 6 February 2014
Public Accounts Committee
2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
12:20 pm
Kieran O'Donnell (Limerick City, Fine Gael)
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So the DDDA would have lost €152 million on the Irish Glass Bottle site and the total loss on developments would be up around €280 million, close to €300 million. The DDDA was playing with fire. On 20 October 2006 the DDDA had a potential exposure of €9 million. We suddenly find that had the DDDA lost the court case, that exposure would have increased to €152 million. It is astounding. It makes no sense. It is an abuse of taxpayers' money. In Mr. Crawley's final remit in the wind-down, I ask that he examine that area to see what could be learned and make that known to the Comptroller and Auditor General, who could deal with it. Like everything, one needs a beginning, middle and end. With the rate of exposure of €152 million, which could have been a pension for the Irish Glass Bottle site, and €180 million with other assets, we are talking of the order of €300 million. It is €150 million with the other six development sites and another €150 million for the Glass Bottle site, a total of €300 million. It is an astronomical figure.