Results 21,121-21,140 of 26,152 for speaker:Kieran O'Donnell

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: That had already gone in.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: Would Mr. McCarthy regard that as unusual?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: Was it done to support the bid?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: The point I am trying to make is that once the €375 million was the amount, Mr. Maloney would have known at that point that his borrowing limit would not have been sufficient to cover that? Am I correct?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: Was the DDDA covered by the €127 million limit with the structures it-----

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: I have two further questions. Did the DDDA go with only one joint venture partner and why did it not, as good practice, have discussions with others at the time?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: I welcome Mr. Maloney. I want to check on some facts, but will keep my questions direct. I am little confused regarding the valuation. An independent valuation of the site was conducted in June 2005 by CB Richard Ellis Gunne. That valuation was €240 million. Was that the only independent valuation that was completed?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: Was the Irish Glass Bottle site the largest investment transaction the Dublin Docklands Development Authority had ever entered into?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: What other transaction of that nature took place?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: This investment was of the order of €375 million. Was it the largest single development of which the Dublin Docklands Development Authority would have been part?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: In that regard, would Mr. Maloney not have been involved in every bit of activity concerning it? There are letters here that were sent to the Department. The first letter that went to the Department seeking approval is dated 2 October 2006. Is that correct?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: This letter was a p.p. letter and sought sanction for borrowings up to €127 million. What was the basis for that amount of borrowing? It must have been based on a valuation. What was that valuation?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: I want to direct the questions to follow a particular line.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: The letter sent on 3 October sought a sum of up to €127 million. That was a precise figure. On what valuation was that figure based?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)

Kieran O'Donnell: With the legal borrowing limit approved, for how much would the DDDA have been able to enter into a transaction? Would it have been €220 million or €375 million, because it had reached its requirement?

Public Accounts Committee: Business of Committee (12 Dec 2013)

Kieran O'Donnell: One of the tangible issues that will help restore that is that the board of the CRC steps down. That is the reality of the situation on foot of the work done in the Committee of Public Accounts yesterday. This is a collective group but for me it is about the people up and down the country who are fund-raising for charities, and the service users. Something positive must come out of the...

Public Accounts Committee: Business of Committee (12 Dec 2013)

Kieran O'Donnell: Yes. They committed to come back to us.

Public Accounts Committee: Business of Committee (12 Dec 2013)

Kieran O'Donnell: It was sent directly to the PAC secretariat.

Public Accounts Committee: Business of Committee (12 Dec 2013)

Kieran O'Donnell: No. 1 on the agenda is the minutes of the meeting of 27 November. Are the minutes agreed to? Agreed. I note that there are no matters arising from the minutes. The minutes of yesterday's meeting will be before the committee at its meeting next week. No. 3 is correspondence received since the meeting of Thursday, 27 November. No. 3A is correspondence received from Accounting Officers...

Public Accounts Committee: Business of Committee (12 Dec 2013)

Kieran O'Donnell: It will be on the agenda next week.