This morning.

Via Irish Times:

Mr Justice Brian Cregan circulated a confidential draft final report to witnesses on Thursday after seven years of investigation, in which he criticised a process “below the surface” where certain events occurred during the sale without the bank’s knowledge.

…Although the findings are still subject to change, the judge has reiterated the conclusion set out in a previous draft report last year that the deal was not commercially sound.

The commission has determined that it can be concluded that the bank made its decision to approve the sale of the Siteserv group to Mr O’Brien in good faith, but based on misleading and incomplete information provided to it by the company,” the judge said.

Sale of Siteserv to Denis O’Brien based on ‘misleading information’, judge says (Irish Times)

Previously: How The Deal Was Done: Siteserv Timeline

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18 thoughts on “Now Den

      1. Hughie Luas

        Local lad and serial commenter on Broadsheet absolutely certain Denis O’Brien could only have acted that way because of a COVID vaccine.

        Reply
  1. AC

    How long did it take to that conclusion again :). Every dog in the street knew this and the judgement is still mild compared to the reality. These deals are made with the foresight that even though they know what is been done is wrong, they will not have to pay for their wrong-doing anytime soon. When judgement is done, time will take the sting out of it. If there is no real serious accountability and no real serious repercussions at the time of the event then the ground is laid for it to happen over and over again…… If you have a bully coming up taking your sweets everyday without repercussion then they will keep doing it….. you hurt them badly and they know it will happen each time they try then that behavior stops…. If there was a will to stop this behavior in our business society then it would stop.

    Reply
    1. johnny

      he asset stripped it to the higher bidder that was frozen out,or flipped it.

      …The Denis O’Brien-owned Actavo, formerly known as Siteserv, has sold one of its largest business units to Altrad, the same French company that claimed it was shut out of the bidding for the engineering services group in 2012….

      https://www.thetimes.co.uk/article/denis-o-brien-s-actavo-strikes-business-unit-deal-with-former-would-be-suitor-v30ct2b0m

      this is just one small ‘Anglo’ deal with Dennis and just look at the amount graft involved,just one small loan,out of a loan book of 34 Billion,he was deeply in debt to Anglo and unqualified to run this business,it was essentially a gift from the Irish state.

      Reply
        1. johnny

          …growing up my Mom always reminded me that ‘dirty’ or unearned money is bad luck,looking at the state DOB’s empire of debt and deceit,she was not wrong.

          PNG just b8tch slapped him for 100mio delaying or killing his deal to save Digi,yeah the govt of Papa New Guinea has more cojones that FFG or is less corrupt.

          Reply
    1. U N M U T U A L

      “Describing what he found to be “two parallel processes” during the sale, the judge said there was an above-the-surface process and one below the surface.”

      …judge must be reading the sheet. ;-)

      Reply
  2. Duncan Wheeler

    And nothing will happen to anybody involved so.
    Rebel, put the ‘so’ at the end of the sentence.

    Reply
    1. johnny

      …do you not believe in a higher power,vengance is coming strong coming for him,if not in this life,then the next,bet he fears the grim reaper,most,explains the morbid obesity and gluttony.

      Reply

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