Dáil debates
Wednesday, 14 October 2009
Dublin Docklands Development Authority.
John Gormley (Dublin South East, Green Party)
I am not at all concerned. I understand these valuations have been carried out by the reputable valuers Lisneys, who have said that the valuation of this particular site has gone down by as much as 85%. Listening to what some people have said about NAMA, one might think the decrease is 50% but in this case it is not; the figure is 85%, which is unprecedented but the truth of the matter and nothing can be done about it.
The Deputy would be far better off under the circumstances awaiting the publication of the accounts. As I have said to the House, they will be laid before the Houses. I am very concerned about governance issues pertaining to the Dublin Docklands Development Authority and I have appointed a chairperson of calibre who understands the question of corporate governance. That person has been complimented by the Deputy and will do a very thorough job. The Deputy can be assured that no stone will be left unturned on any matter relating to the Dublin docklands.
Galway Tent
Posted on 23 Oct 2009 2:37 pm (Report this comment)
"Accounting standards state that valuation methodologies must be fair, true and consistent from one year to the next."
2008 Accounts: It is not credibile that DDDA did not have a fair valuation snapshot as required for IGB-Ringsend on December 30, 2008.
Any future changes can be reflected in the future accounts for Dec 30, 2009. (Daily publication is not forbidden).
Is DDDA acting to fool the public and is this consistent with fraud?
Is DDDA adopting Anglo-Irish Bank and FAS best practice in governance?
If operating in New York under SEC rules would the DDDA directors be arrested?