Results 2,361-2,380 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: I am looking at this letter. There is no reference in it to the figure of €220 million, to 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: How did the Department find out that it was €411 million?

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

Paschal Donohoe: Was it informed at any point before that?

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

Paschal Donohoe: I wish to emphasise the huge variation between the €220 million figure here and the eventual figure of €411 million.

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

Paschal Donohoe: I have read that but what I am stunned by is the fact that the figure and how high it could be was never communicated back to the Department. I understand the point about ministerial consent to borrowing and the point about planning but the key point here is that a contract was eventually signed for €411 million by an agency of the State, by the Department of the Environment,...

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

Paschal Donohoe: Was capped.

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

Paschal Donohoe: I understand that completely, and thank Ms Moylan for the manner in which she answered my questions. I understand there was a 26% stake and that the cap was in place. I also contend, as the figure increased exponentially, notwithstanding the presence of the cap, the Department should have been aware of that. The original figure was €220 million, a figure of €375 million was...

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

Paschal Donohoe: It is and not complicated. The simple point in all of this is that we have a figure of €375 million and a final figure of €411 million which differ massively to the only written communication I have to the Department. The Chairman has been very generous in terms of time with me. In her concluding paragraph, Ms Tallon states: "I am sure the committee will appreciate the risks...

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

Paschal Donohoe: I want to end with a point with which I began, namely, the selection of Mr. McNamara and his role. I want to quote from The FitzPatrick Tapes by Tom Lyons and Brian Carey, to which I have referred in other committee meetings. Mr. FitzPatrick said: There was little discussion at board level about whether Mr. McNamara was the right man for the job as his reputation spoke for itself ......

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

Paschal Donohoe: If I could, I wish to speak further on the matter. On the latter point, could Mr. McCarthy go through the answer again that he gave to Deputy Murphy on the change in the cap and the change in liability to the State?

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

Paschal Donohoe: It is taken in that way. It appears highly relevant to understanding the ultimate exposure of the State.

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

Paschal Donohoe: If I could interrupt, in order to be clear, when Mr. McCarthy is talking about shareholders, does he mean the consortium that agreed to go ahead and purchase the site for €411 million? Is that what Mr. McCarthy is referring to?

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

Paschal Donohoe: And then the liabilities to each other as well.

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: Why was there a difference?

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 less than the projected amount?

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

Paschal Donohoe: Was it more than anticipated?

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

Paschal Donohoe: By whom?

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

Paschal Donohoe: Just so that I can be clear, is it the case that there was €291 million from Anglo Irish Bank and the shareholders were providing a guarantee in proportion to their share of the guarantee?

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

Paschal Donohoe: So it was not the total amount. It was for €100 million.