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Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Turning to the matter of the CEO, who was before us several times, on what date did he finally notify the board that he was stepping down from his role or when was the board made aware of this decision?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Sorry. On what date did the former CEO's time expire? When was the date that Mr. Kavanagh was stepping down first known?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Okay. On what date was the €9 million convertible loan facility approved by HRI?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: It was prior to Mr. Kavanagh's departure.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: It was approximately a year before his departure. As the CEO of HRI, can Ms Eade confirm she is happy there is no conflict of interest concerning the overlap between Mr. Kavanagh's previous role as CEO of HRI and the approval of the convertible loan to the Curragh?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: From the Department's point of view, is Mr. Blake happy there was scrutiny of that process and no conflict of interest or other issues arises?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Was the New Economy and Recovery Authority, NewERA, also involved?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: My hearing was worse a few months ago, but it has started to improve a bit. I must have been deaf in that ear for about three months. Hopefully, Mr. Blake's will come back as well. Regarding cash in transit, I am at a dead loss with this issue. It concerns a sum of €389,000 that had been collected from racecourses. A company called Senaca had this money in its possession, as I...

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Indeed, but I just wish to return to this particular case for a moment. It just happened that the company was liquidated within the time concerned. I am trying to understand this. It was not the company's money.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: This money should not have shown up on the balance sheet of that company because it was holding it in custody for HRI. How did that money become an asset of Senaca to be used in the liquidation process to pay off debts?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Ms Eade mentioned an investigation. What is the nature of that investigation?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: How much money was recovered?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Yes, but a sum of €270,000 has gone AWOL. Ms Eade said she was not sure about the Garda investigation. How long is the investigation going on?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: There has not been an update.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Yes, but if somebody had €270,000 of my money, I would look for an update.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: The Garda are investigating and I presume there is some liaison has taken place with An Garda Síochána. Can Ms Eade contact An Garda Síochána to inquire whether the investigation is still live and whether progress is expected?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: An Garda Síochána must be careful about what they do and say because of the potential implication for legal proceedings, and possible outcomes of legal or court proceedings. Can Ms Eade get confirmation on whether the investigation is still live into the €269,000 that has gone missing and not been recovered? Can she also find out whether the Garda is actively pursing the...

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: I recognise that was not taxpayers' money but we are talking about bodies that are funded by taxpayers.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Yes.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 33 - Tourism, Culture, Arts, Gaeltacht, Sport and Media
Horse Racing Ireland: Financial Statements 2020
(22 Sep 2022)

Brian Stanley: Please, and revert back to us. Did Deputy O'Connor get back in a second time?

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