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

Eoghan Murphy: That is fine.

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

Eoghan Murphy: Did it worry Mr. Maloney that it happened at the very last moment?

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

Eoghan Murphy: Did it undermine Mr. Maloney's trust in Mr. McNamara?

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

Eoghan Murphy: Mr. Maloney would be aware that he was going to try to involve Mr. Quinlan if the bid was successful.

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

Eoghan Murphy: Did he not feel obliged to inform the board members about the moving chairs at this late stage? I take his point that he resisted but the request was likely to change the relationship post-agreement.

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

Eoghan Murphy: I will try and get there in ten minutes. Mr. Maloney said he had been waiting four years so I want to give him the fullest opportunity to put everything on the record that he wants to. Mr. Moloney discussed Mr. Derek Quinlan at the meeting of 2 November and again on 7 December, but this time in the context of Derek Quinlan being part of the consortium and lending having been arranged. Was...

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

Eoghan Murphy: We then move to the period from January 2007 and the minutes of the board meetings throughout that year. There is a brief mention in January and February, something to do with a bank guarantee, which is redacted in the minutes I received. Would the DDDA normally redact minutes of board meetings?

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

Eoghan Murphy: But elements would be redacted for the public record?

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

Eoghan Murphy: In February's minutes there is a paragraph on the bank guarantee and that is redacted. In March there is a paragraph on capital gains tax that is completely redacted. In April there is an update on tax planning. In May's board meeting a complaint to the Standards in Public Office Commission, SIPO, is mentioned. That was regarding a conflict of interest. Does Mr. Maloney remember the...

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

Eoghan Murphy: No. Mr. Bradshaw may have dealt with it. With regard to Mr. Bradshaw, in advance of my arrival on the board and the board of Anglo and so on, I do not have the details. During my time there, SIPO had made a judgment on it that said the claim was not upheld.

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

Eoghan Murphy: That was in regard to Mr. Bradshaw in terms of his position on the board of Anglo Irish Bank.

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

Eoghan Murphy: We do not have the time either. There is nothing in the minutes of board meetings for May, June or July. There was no August meeting and then there is nothing in the minutes for September, October and November on this deal. The board did not discuss this between May and November 2007. Is that not unusual given how significant was the deal? The DDDA had just completed it.

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

Eoghan Murphy: The deal appears back in the minutes of the board meeting in December 2007 in the context of site clearance and remediation works but, unfortunately, the minutes I have are partly redacted.

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

Eoghan Murphy: In January 2008, issues requiring ongoing funding for remediation works are noted in the minutes. It is asked that IGB be placed back on the agenda for all future meetings. Why was that? Somebody said at that meeting we must discuss this issue at all future board meetings.

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

Eoghan Murphy: Were people worried at that point in time?

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

Eoghan Murphy: What was the cost of remediating the site and financing that?

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

Eoghan Murphy: The site was back in the minutes of the board from January but most of the records I have are redacted. Perhaps Mr. Maloney might come back to the committee in his formal correspondence with us if he has the board minutes. He could forward them or at least explain why the redactions are there.

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

Eoghan Murphy: The final issue I would like to raise, which was discussed in detail with Ms Moylan and the Comptroller and Auditor General, is the time period liability cap of two years, which was then lifted when the guarantee was renegotiated. What happened?

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

Eoghan Murphy: I thank Mr. Maloney for that clarification. The Comptroller and Auditor General in his findings criticised the record keeping related to these events. Has Mr. Maloney a comment on that?

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

Eoghan Murphy: I thank Mr. Maloney.