Clerk to the Committee:

Basically the developer pulled back his full costs; that is what happened. The developer would have said, "The value of those 259 houses is €77 million and I am going to sell them as affordable houses for €46 million and get an asset from the State on top of that as compensation." However, the asset was worth only €15 million, at a maximum. By the time the whole deal had fallen through, the asset was worth only €3 million.