Results 21,041-21,060 of 26,081 for speaker:Kieran O'Donnell
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: Is Mr. Maloney certain it was done prior to this letter issuing on 3 October?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: If that was the case and they were coming up with a valuation of €375 million, why did the DDDA only look for a loan facility that would have allowed it go up to a limit of €350 million?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: How did it suddenly arrive at a valuation of €375 million for the site?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: Mr. Maloney is saying the DDDA entered into a transaction of the order of €375 million and it did not have an independent valuation done.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: First, this was the biggest single transaction the DDDA had entered into. Mr. Maloney was its chief executive officer. A letter went to the Department which was a p.p. letter, of which Mr. Maloney had no sight. For that level of investment, should he not have had sight of that letter? Second, it was generally known that the market was falling, certainly from June or July 2006. It went...
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: It is noted that concerns were expressed by the executive to the board about-----
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: On the day, did Mr. Maloney express that concern about the valuation to the board? Did he have concerns about the €375 million?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: What date was that?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: In terms of the amount put on the value, they valued it at €375 million.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: That had already gone in.
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: Would Mr. McCarthy regard that as unusual?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: Was it done to support the bid?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: The point I am trying to make is that once the €375 million was the amount, Mr. Maloney would have known at that point that his borrowing limit would not have been sufficient to cover that? Am I correct?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: Was the DDDA covered by the €127 million limit with the structures it-----
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: I have two further questions. Did the DDDA go with only one joint venture partner and why did it not, as good practice, have discussions with others at the time?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: I welcome Mr. Maloney. I want to check on some facts, but will keep my questions direct. I am little confused regarding the valuation. An independent valuation of the site was conducted in June 2005 by CB Richard Ellis Gunne. That valuation was €240 million. Was that the only independent valuation that was completed?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: Was the Irish Glass Bottle site the largest investment transaction the Dublin Docklands Development Authority had ever entered into?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: What other transaction of that nature took place?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: This investment was of the order of €375 million. Was it the largest single development of which the Dublin Docklands Development Authority would have been part?
- Public Accounts Committee: Special Report No. 77 of the Comptroller and Auditor General - Dublin Docklands Development Authority: Discussion (Resumed) (12 Dec 2013)
Kieran O'Donnell: In that regard, would Mr. Maloney not have been involved in every bit of activity concerning it? There are letters here that were sent to the Department. The first letter that went to the Department seeking approval is dated 2 October 2006. Is that correct?