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Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: There are people who have been here for three hours.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: I want to break.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: I do not think we will be finished in 15 minutes but we will stay going and try to finish by 12.30 p.m. Is that all right?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Just be mindful there are staff here since before 9 a.m.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: We have to be mindful of that. To revert back to Rhebogue, the independent valuations confirming the oversight appeared after the event. They were not sought by the governing authority before it approved the purchase. Is that correct?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: They were a long way off market value, as a cursory glance at the Internet would show. Professor Kilcommins's opening statement outlined the damage to the university's reputation, etc. Has it impacted on the reputation and fundraising of the university? Would Professor Kilcommins like to comment briefly on that?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Did it affect the important work of research?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: No, what I am saying is-----

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: The loss of funding, yes. That is the impact. Of course the university would not be appearing before the committee for academic reasons.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: We are talking about the finance.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Do the witnesses expect it to have a long-term impact? Is it damage that can be repaired?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: I will revert back to the Dunnes Stores site for a moment. What is the current position with respect to the publication of the KPMG report? There was an issue around legal proceedings. Where is that issue of legal proceedings now? What are the legal proceedings?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Have recommendations in that report been implemented in full?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Obviously, since all of this came to light. It is really time now to-----

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Would Mr. Kelly accept that at this point that the university did overpay for that site? On the previous day here it did not happen.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: No one here would disagree with that.

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: I saw that in the briefing notes. That is accepted by the people present. I understand part of the building is in use at the moment. Is that correct?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: How much of it?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: What is it used for?

Public Accounts Committee: Financial Statements 2022: University of Limerick (9 May 2024)

Brian Stanley: Is there still a question over its demolition?

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