What’s Another Year


From top: Denis O’Brien and Siteserv (now Actavo); Island Capital Management seeking a judicial review of Justice Brian Cregan’s

The Commission of Investigation into debt write-offs by IBRC, formerly Anglo Irish Bank, has published its SIXTH interim report.

And it is requesting a further extension to allow for judicial review (above) by Denis O’Brien’s Island Capital Management to be heard.

The commission is tasked with examining 38 transactions which cost the State €10million or more each – or a total debt write-down of €1.88 billion.

The transaction in question is the 2012 sale of Siteserv to a company controlled by Denis O’Brien.

The High Court will give a ruling over a claim of privilege over a legal document and to objections to the commission’s mention in their terms of reference to Siteserv being ‘not commercially sound’ at its sale.

Set up in 2015, the commission, was originally meant to report by the end of that year, this was extended until April 2016, then until the end of 2017, and then until the end of 2018, and then by June of this year and is now scheduled for sometime beyond March 31, 2020.

Good times.

Read full report here

Previously: Inactavo


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17 thoughts on “What’s Another Year

  1. eoin

    When Catherine Murphy TD made those revelations in the Dail in 2015, all she wanted was a specific narrow investigation of how the state-owned Anglo sold Siteserv at a knockdown price to Denis O’Brien when there were higher bidders and the transaction resulted in the Siteserv shareholders getting €5m, despite there being no equity in their business. You would have though six weeks would have been enough. We’re now looking at five years.

    It’s almost as if the State doesn’t want to hold its former richest businessman to account.

    What’s the latest with the Moriarty Tribunal which concluded in March 2011? From last December, “Investigation by CAB following referral of the final report of the Moriarty Tribunal by the Minister for Communications, Energy and Natural Resources to the Commissioner of An Garda Síochána in March 2011.

    In March 2011, the Commissioner tasked CAB with examining the report with a view to identifying any criminal offences that may require investigation by An Garda Síochána. I am informed that the examination of this matter is continuing and a final report has not yet been completed. A number of interim reports have been provided to the Garda Commissioner.

    With regard to the progress of the corruption investigations, enquiries have been requested in a number of other jurisdictions, the outcome of which is still awaited at this time.”

  2. realPolithicks

    “SIXTH interim report”

    A cynical person might conclude that they don’t actually want to publish this report, luckily we have no cynics on bs.

    1. Panty Christ

      an interim report is like a holding reply until such a time as a full report with findings has been published.. this will only after everybody named in the report has had a chance to reply.. this will never, in fact ever happen. Wind it up now and save a fortune. Mr redacted will never face any sanctions in this country.

  3. Scundered

    I happen to know someone with a backup drive containing absolutely all the emails sent around that time,, I’ve often thought they would probably be rather revealing to the truth of what happened. Would anyone know if the data drive ended up in the hands of a journalist, could “my friend” be charged with a crime? How dangerous would that be exactly?

        1. Scundered

          Am getting my hair done then, can you make it 1pm?

          Seriously though, would it be a criminal offence to give such a company backup drive to a journalist?

    1. Vanessa the Holy Face of Frilly Keane

      Eoin is probably best placed for this
      But I would suggest handing it over on condition of whistleblower protection
      Mick Wallace and Clare Daly
      While no longer concerned with local politics
      IMO can be trusted

      Alternatively, a trusted Independent Journalist, whose promise of protecting their source is absolute, and are patient and diligent with steadfast precision to timelines, events and persons.
      I would think Broadsheet’s Olga Cronin is one
      And Frank Connelly is another.

      I definitely wouldn’t linger on it

      1. Ciuncainteach

        Presumably, the OP is mostly concerned with incurring civil or criminal liability for disclosing the information?

        Most protected disclosures (i.e. whistleblowing) provisions in law provide some immunity against civil and criminal liability.

        Whether these protections actually apply in this specific context depends on your relationship to the information, and the specific offense or wrongdoing the information shows. If this information didn’t come to you in the context of your employment, then it’s unlikely that you can avail of whistleblower protections offered by the Protected Disclosures Act 2014.

        Depending on the information contained within however (i.e, if the information demonstrated a breach of financial services legislation), it could be disclosed under s.38 of the Central Bank (Supervision and Enforcement) Act 2013.

        As much as I would dearly love to know the contents of that information, you/your friend shouldn’t consider disclosing anything without getting legal advice. You also shouldn’t mention anything about the information (specifics or context) on a public forum unless you have taken measures to protect your identity (use of Tor, VPN, etc).

  4. Seanis6

    the same people who dont give a shtuff about noirin O S, the treatment of Maurice, terry prone, FG collusion with gardai to cover up, continue again and again to support the pigs at the trough, and they support Denis make no mistake about it !!

  5. Truth in the News

    We need to go further and investigate on how the second Mobile Phone Licence was
    awarded and there is plenty of material gathering dust in the Dept of Commnications

  6. Jeffrey

    Has many have already said, the guys is untouchable. Has fingers in so many pies and likely has dirty stuff on many at the top that comes useful when in trouble…

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