Results 2,341-2,360 of 32,547 for speaker:Paschal Donohoe

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: The were on the boards, though. They may have been shareholders.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: It appears extraordinary to me that if a conflict of interest was identified in that meeting, the potential for a conflict of interest was not identified at other meetings. I want to focus on how this happened. All this took place over the telephone. When these people referred to a conflict of interest, what did they do? Did they hang up?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: I thank Mr. McCarthy for that clarification. They stayed in the meeting. That is a helpful clarification. According to the minutes of the meeting at paragraph 2.1, the chairman drew attention to the fact that he and the chief executive had been advised by Mr. McNamara at 8.30 p.m. the previous night that Mr. McNamara had been in discussions with Bank of Ireland and Anglo Irish Bank to...

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: The individuals who were directors of those banks stayed for the entire meeting. Is that the case?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: That was the legal advice that came back despite the fact that the individuals in question were directors of the banks.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: It was believed there was no conflict of interest.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: I am incredulous. I can only speculate but Mr. FitzPatrick and Mr. Bradshaw may well have been owners of shares in the bank. They may well have been in receipt of performance-related payments from the bank due to the roles they were performing. It is certainly feasible that they could have benefited indirectly from the go-ahead for this project. I am not saying that they did. I am being...

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: I will conclude on that point in a moment. I am just asking questions, I am not drawing conclusions at this stage. Paragraph 2.4 states, "The Chief Executive confirmed that all of the negotiation and preparation of documentation by the Executive had been virtually completed before the issue arose". Does that refer to the issue of potential conflict of interest?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: To conclude on this document, on valuation, paragraph 5.1 states, "Assuming no liability for capital gains, the report concluded that the site value is in the region of €430 million". What guidance was given to the chief executive on how high a figure the board could agree with Mr. McNamara?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: At this point the figure of €375 million is confirmed which is now €155 million higher than the letter to the board from Mr. Maloney.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: At any point was that figure communicated to the Department?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: Can anybody show me a letter sent from the Department of the Environment agreeing to the figure of €220 million?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: What letter is that?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: We do not have that letter.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: No. The only communication we have is from 12 October. Does Ms Moylan have a letter sent from the Department agreeing to the figure of €220 million?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: Can we please get a copy of that letter?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: Was that circulated to the committee?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: Does that letter contain a figure of €220 million?

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: Okay.

Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General: Dublin Docklands Development Authority (Resumed) (2 May 2013)

Paschal Donohoe: I accept that but nonetheless we are at a point here where there is a figure in writing of €375 million against a figure of €220 million. What figure was finally agreed in the contract?