Alan Dukes, former Chairman of IBRC at a press briefing in relation to the Siteserv issue on April 23, 2015  at the offices of Eames Solicitors, Dublin 2

He was ‘scandalised’.

Further to the leak this morning of a final draft of the Siterserv legal review that reportedly asserts:

‘The bank made its decision to approve the sale of the Siteserv group to Denis O’Brien in good faith, but based on misleading and incomplete information provided to it by the company.’

The State incurred a loss of more than €100 million on the sale.

Siteserv shareholders were paid €5 million as part of the deal.

Throughout the sale process, criticism was usually angrily shut down.

How angrily?

Via Irish Times (April 24, 2015)

Former IBRC chairman Alan Dukes said he is “extremely angry” the review of the Siteserv sale and other transactions conducted by the bank will seek evidence of criminality or malpractice.

The very fact that the possibility of criminality had been mentioned was “absolutely outrageous”, he told a press conference in Dublin.

Mr Dukes said he does not know the precise list of transactions to be covered under the Government-commissioned IBRC review into transations worth more than €10 million, but that he was “happy” the review is taking place.

However, he said he is “scandalised”at the notion of the review seeking evidence of malpractice by IBRC, a State-owned bank set up to wind down the assets of Anglo Irish Bank and Irish Nationwide.

There were “no grounds for suggesting that”, he told the press conference .

Some people, he said, saw “conspiracy in their tea leaves”, adding he wished to say “in the strongest possible terms” that any such allegations were out of place.

He said he tried not be paranoid, adding that did not mean “they’re not out to get you”, to laughter from many of those present….

Siteserv: Dukes ‘angry’ at suggestion of criminality (Irish Times, April 24, 2015)


Former Finance Minister Michael Noonan

[Alan Dukes] assured me that what happened was in the best interests of the State and consequently of the taxpayer”.

The deal was the deal and I was assured the components of the deal were necessary to get the best results for the taxpayer. All transactions were complete. There was no possibility of a reversal and I trusted Alan Dukes.”

Michael Noonan, April 22, 2015.

Good times.

Earlier: Now Den

Previously: Deal Timeline

 The Bank That Liked To Say Yes


Thanks Giggidygoo

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20 thoughts on “Tea Leaves

  1. Frank

    Michael Noonan has the face of someone who has seen and experienced things. Dark and unimaginable things

    1. eamonn

      Was he a mere witness to said dark and unimaginable things.
      I think i read on here once that we get the face we deserve – how did he earn that phisog?
      doubtless beyond reproach – like the D man

      1. Kine

        Every morning he looks in the mirror
        Have we not forgotten another Denis o’brien company esat AND WHEN IT WAS SOLD
        He moved to Portugal and paid no tax on the sale using being a non dom to escape paying capital gains
        But he bought a house on raglan road for £7 million and when the revenue moved to try and get the tax he said his residence in Dublin was uninhabitable
        A great news article was In the Irish indo titled the €57 million case of why a project isn’t a home
        Read it and you see exactly what Denis o’brien is

  2. Mojonixon

    Michael Noonan has the face of someone who has done and experienced things. Dark and unimaginable things

  3. ce

    Michael Noonan has the face of someone who has done and experienced things, while chewing on a lemon flavoured bee…

  4. Duncan Wheeler

    The man who almost single handedly delivered the citizens of Ireland into the endlessly destructive hands of the neo-liberal way. No Irish man he. An internatinal creature of the dark side of humanity. Dukes, an almost man and gullible fool who walked down the dark path believeing it was a walk in the park.

    1. Janet, dreams of an alternate universe

      Seven in the Woods by Jim Harrison

      Am I as old as I am? Maybe not. Time is a mystery that can tip us upside down. Yesterday I was seven in the woods, a bandage covering my blind eye, in a bedroll Mother made me so I could sleep out in the woods far from people. A garter snake glided by without noticing me. A chickadee landed on my bare toe, so light she wasn’t believable. The night had been long and the treetops thick with a trillion stars. Who was I, half-blind on the forest floor who was I at age seven? Sixty-eight years later I can still inhabit that boy’s body without thinking of the time between. It is the burden of life to be many ages without seeing the end of time.

  5. Dr.Fart

    Noonan has single handedly caused more damage to the people of Ireland than any one person since Cromwell.

    1. GiggidyGoo

      Yep, and wait for the line up in the Dail showering praise on him when he departs this world.

  6. GiggidyGoo

    Now we should delve into Noonan and his decision to not allow examination of transactions below €10m. How many TDs, Judiciary, Media got off scot free from examination, and their repayments?

  7. Broadbag

    Dukes has a bang of Rees-Mogg off of him, thinks he’s too high and mighty ever to be questioned, his efforts at IBRC showed him up for the self-serving nicompoop he his.

    1. Cú Chulainn

      If memory serves… wasn’t he paid a chunk of change for this job [running IBRC]? Will he now return those funds on the basis of that he hadn’t a clue and shouldn’t have received them, or because he is yet another corrupt politician…

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