Tag Archives: Cregan commission of investigation

Siteserv; Social Democrats co-leader Catherine Murphy; Denis O’Brien

You may recall the Siteserv sale back in 2012.

Denis O’Brien owed Anglo Irish Bank hundreds of millions.

Siteserv owed Anglo Irish Bank €144 million.

Denis bought Siteserv debt-free for €45 million.

You will find a detailed background to the deal here.

Since then a Commission of Investigation, led by High Court judge Brian Cregan, has been tasked with investigating the sale of Siteserv to Denis O’Brien, and other matters.

In 2017 Catherine Murphy, of the Soc Dems, submitted a 300-page statement to the Commission detailing her research into the sale.

The commission later wrote to Ms Murphy saying, if she doesn’t reveal her sources, “it may not be possible to advance some of the issues raised” by her.

Further to this…

This morning.

In The Irish Times.

Jack Horgan-Jones reports:

Social Democrats TD Catherine Murphy will not appear at the Siteserv inquiry as she fears she will be forced to reveal the sources of her information about businessman Denis O’Brien’s finances, The Irish Times has learned.

In a 10-page letter to the Cregan commission, parliamentary lawyers acting on Ms Murphy’s behalf argue that if she were to attend, she would be cross-examined by lawyers acting for other witnesses on “the source or sources of information” she relied upon when making statements about Mr O’Brien and the deal that saw him buy infrastructure company Siteserv.

“The commission is unable to afford any reassurance to Deputy Murphy that such cross-examination will not be permitted or that she will not be required to answer the questions put to her in the course of such cross-examination,” the letter, seen by The Irish Times, states.

Catherine Murphy will not appear at Siteserv inquiry (Jack Horgan-Jones, The Irish Times)

Previously: [REDACTED]’s 1.25% Interest Rate

What The Commenter Said

Cregan Commission on Broadsheet

Request from Judge Brian Cregan for an extension for his inquiry into the sale of Siteserv; Social Democrats TD Catherine Murphy; businessman Denis O’Brien

Yesterday, The Sunday Business Post, reported that Taoiseach Leo Varadkar is refusing to give Judge Brian Cregan a 15-month extension for his inquiry into the sale of Siteserv and that he wants to know what the commission has found to date before doing so.

Judge Cregan’s request for an extension last week follows three other similar requests since the commission of investigation was set up in 2015.

The 2012 sale of Siteserv, to a company controlled by Denis O’Brien, Millington, is just one of 38 debt write-offs involving IBRC, formally Anglo Irish Bank, that Judge Cregan is tasked with examining. Siteserv is now called Actavo.

Hugh O’Connell reported:

The possibility of the commission of investigation, which is examining Siteserv and other IBRC loans sales, being scrapped entirely was raised at a meeting between the Taoiseach and opposition party leaders earlier this month. There are mounting concerns over the several missed deadlines and rising costs previously estimated at up to €25 million.

A Dáil vote would be needed to scrap the inquiry completely.

Social Democrat TD Catherine Murphy said:

“If we simply accept that the task of investigating Siteserv is too big and complicated, then essentially we are being asked to accept that there is an entire cohort of people who are too big to touch. I cannot and will not accept that.”

Speaking to The Irish Times, Ms Murphy said:

What concerns me about the commission is that the format it is following is akin to a tribunal of inquiry rather than a private investigation. There seems to be a highly legalistic approach.

That is not what was expected. I myself said I did not want it to go on forever when it was set up. It will be five years. To say I am disappointed is probably an understatement.”

Varadkar is refusing to extend the Siteserv inquiry deadline (Hugh O’Connell, Sunday Business Post)

TD who raised issue of Siteserv sale to Dáil criticises inquiry’s progress (Harry McGee, The Irish Times)

Previously: Inactavo