Oireachtas Joint and Select Committees
Thursday, 9 May 2024
Public Accounts Committee
Financial Statements 2022: University of Limerick
9:00 am
Verona Murphy (Wexford, Independent)
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I say to Mr. Wall that was a somewhat a concerning engagement.
All I can say is that it brings to mind the expression, "A poor workman blames his tools." I will leave it at that.
I want to deal with the Rhebogue acquisition. I am concerned on a number of fronts. I realise we do not have present all the actors we previously engaged with but I certainly remember robust engagement, particularly with regard to the purchase of the Dunnes Stores site. What is concerning is that the matter at hand is a hundred times worse than that. Bearing in mind the amount of engagement and, as my colleague said before me, the number of reports that emanated because of poor governance in the purchase of the Dunnes Stores site and the deficits that occurred from valuations, UL finds itself in a much worse position. I do not even have words for it. How was it possible? Who was responsible for not understanding stamp duty was to be paid as part of the transaction? How did it become a surprise to anybody engaged in this that stamp duty was to be paid? How did it just fall out of the sky? My understanding is-----