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Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: With due respect, if proper pre-planning had been done on the Meelick site and the Greenpark site, many of these issues would have been avoided. There were clearly complications with both sides. Unfortunately, if one goes into an agreement with a vendor and does not check out pre-planning, the vendor is playing with the ace of hearts or with the trump card. The vendor was playing with all...

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: It is an excellent facility.

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: From when and to what date?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: It appears that if the consultants' report commissioned on the Meelick site had gone to the board, there is a fair chance that the bid on the site would not have been pursued. It might have been a timing thing at the time as the timescale was very short in terms of completing a report before the public auction. Once one goes to public auction, one is on a hiding to nothing on a risk basis...

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Can I move forward? What are Bord na gCon's current debt levels?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: How much of that relates to Greenpark?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: What does the rest relate to?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: What would Bord na gCon regard as a sustainable debt level?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Does that have to do with Greenpark?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Bord na gCon identified in the business plan that was formulated at the time that it would sell Markets Field, which has been sold and which is providing a fantastic amenity that Limerick FC will shortly use. It is a civic amenity that is very good. Where does Bord na gCon stand in terms of the sale of other assets? It was indicated that €8 million would be identified. Of that...

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Is the entire debt being serviced currently by way of interest-only payments?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Has the body made any capital repayments?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Has Bord na gCon had any negotiations with the banks at this point to look at capital repayments?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Which bank?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Is that sustainable?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Is there a capital structure in place with the other greyhound tracks?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: Is Limerick still interest only?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: The model that was pursued at the time to go after and develop Greenpark was based on the forecast realisation of €8 million through the sale of assets. The numbers do not change. What happened in the past should not have. Will the racetrack break even in 2014?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: How large will the losses be?

Public Accounts Committee: Special Report No. 86 of the Comptroller and Auditor General: Bord na gCon (27 Nov 2014)

Kieran O'Donnell: What were they in 2013?

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