Phil Hogan (Carlow-Kilkenny, Fine Gael)

I am delighted that the Minister has said that we want to take this matter seriously because, on 17 August 2009, he wrote to Professor Brennan and asked that certain matters in respect of corporate governance be brought to his attention no later than October 2009. I did not hear in his reply whether he received that report.

At a meeting of the Joint Committee on Environment, Heritage and Local Government last December, Professor Brennan stated that it was "absolutely clear that there were systematic conflicts of interest between the Dublin Docklands Development Authority and Anglo Irish Bank by virtue of those common directors. There are questions about whether, as directors of the authority, the individuals in question owed their duty solely to the good of the authority or were engaging in transactions influenced by their outside interests."

I want those matters investigated. I want the Minister to come back to the House with a full report on these matters. We want to get to the truth of these matters and I am delighted to hear him say that he will leave no stone unturned, but he will be judged on that statement by the manner in which we expose the full rigours of his authority to get to the truth and make sure that the conflicts of interest and the bad decision making processes never happen again.

In view of the fact that the assets of the authority were put up as security for the loan from Anglo Irish Bank, I am sure that the Minister has an estimated liability to the bank by the authority if that loan was called in.

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