Jim Walsh (Fianna Fail) | Oireachtas source

Yes, a large amount of money. It is very difficult to value the assets of some of the port companies because they are in the form of fixed assets such as jetties. It is a bit like having a property: anybody valuing those assets would have to look at the income they were generating. I am wondering if that could become a hindrance to the development of the port. Very strict statutory guidelines are being applied as to how they will be done.

I know that one or maybe more of the port companies has a significant pension deficit. What happens to that? Does it become the responsibility and liability of the local authority? How will it be addressed? In many instances, these are defined benefit schemes backed by commercial insurance.