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Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: With due respect, the board put the DDDA and the taxpayer in a position where they had to fight a legal case based on making an investment over a 12-day period when the investment went from an exposure of €9 million to €61 million with no independent valuations provided. Major questions have to be answered here. Looking at it now it is clear that it was invested at the peak of...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: Does the authority have other legal fees?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: I ask about overall legal fees on cases.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: What is the authority's exposure?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: In respect of six developments, CHQ represented a loss of €35 million, the sites in the North Lotts represented €42 million and the sites in Jones Oil, Artbrook, Readymix and the southside together represented a loss of €50 million. How much of a loss does Mr. Crawley expect the DDDA and, ultimately, the Irish taxpayer to realise on the Glass Bottle site?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: That is cash.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: The former CEO, Mr. Maloney, appeared before this committee on a previous occasion. The board minutes of 20 October 2006 stated that the Glass Bottle site represented an exposure of €9 million to the DDDA. Four days later, on 24 October, the figure had increased to €36 million, comprising shareholders' loans and equity amounting to €29 million and an additional...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: I ask Mr. McCarthy to comment on the issue.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: In Mr. Crawley's view, were there weaknesses in corporate governance in the DDDA? Did it fall under his remit to examine that issue?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: If Donatex had won its case, how much would it have exposed the DDDA and the Irish taxpayer?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: How much?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: How much was Donatex claiming in the legal case?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: Are we speaking about €100 million or €200 million?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: I am more interested in the perspective of the ordinary person looking on. Had the DDDA lost the court case, how much would it have had to pay to Donatex?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: It went out to tender for the financial services in early 2013. This contract is now concluded.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: On page 31 of Mr. Crawley's briefing, there is a map that shows the North Lotts, the IFSC and Grand Canal Dock. How much of that holding is now under the control of NAMA? I refer to the undeveloped parts.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: The delegates might provide that to the committee.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: Would it not be based on the sale to NAMA itself? Could details be provided on what assets ended up in NAMA?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: Yes.

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Dublin Docklands Development Authority
Annual Report and Financial Statements 2012
(6 Feb 2014)

Kieran O'Donnell: I am talking only about the land that would be owned by the DDDA. That is all I am interested in.

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