Fergus O'Dowd (Louth, Fine Gael)

Is it not a fact that on 2 May 2008 the Minister wrote the following in a memorandum?

"Is there any truth in the story that land sold to a private Co. was not sold in accordance with proper governance procedure + that the land was subsequently sold for c. €12m? Copies of the newspaper [Limerick Leader] report, please."

The Deloitte report into this and other activities in the Shannon Foynes Port Company found that there was no competitive tendering in the sale of the site; there was no public auction; there was no proper valuation; and there was no record of board approval to enter negotiations. We now know that a company bought that site, which was valued without proper valuation. It was sold two and a half years later for €12 million. There are serious and significant issues regarding corporate governance. An internal memorandum within the organisation that has been brought to my attention states: "Koala (to the sounds of violins and heavenly Choirs) and hopefully this is teed up for you to make the kill." The Koala site was 16.6 acres of land that was sold without due and proper process. It is not acceptable that the Minister will not institute, as this request is, a departmental inquiry into what happened, why it happened and who benefited. I do not accept the Minister's answer is adequate.

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