Timmy Dooley (Clare, Fianna Fail) | Oireachtas source

It is clear now that the only commitment that Granahan McCourt has to make, along with the myriad of companies that sit behind it supporting it and providing it with letters of comfort, is to invest €175 million of equity. It is also clear from the Minister's answer that all of that €175 million may not be in the company by the time the contract is signed. The Government has talked loosely about an additional €2.4 billion of exposure. I ask the Minister to confirm that there will be no encumbrance or lien on any asset of Granahan McCourt or any of its support companies to ensure that the money is available in the event of the performance of the contract not being as expected. I want clarity. Will there be some legal connection or instrument to encumber that €2.4 billion in the event of the contract not performing as expected?

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