Tag Archives: Richard Woodhouse


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From top: IBRC logo; Senator Michael McDowell; Tom Hunerson


In the Seanad.

Senators discussed the Commission of Investigation (Irish Bank Resolution Corporation) Bill 2016 which is at its second stage.

This is the Cregan commission which is examining sales of assets by State-owned IBRC, including the sale of Siteserv to Denis O’Brien €45.4million, while Siteserv owed Anglo €150million.

During the Seanad discussion, Senator Michael McDowell said the following:

As Senator Diarmuid Wilson stated, this commission of investigation arises mainly out of the Siteserv controversy. It is notable that on 25 April 2015, the former chairman of IBRC [Alan Dukes] stated that the board had rejected a Department of Finance proposal to appoint a senior civil servant to the board on the basis that such an appointment would be unsuitable.

In the same article in The Irish Times, he stated a Mr Woodhouse had been kept out of discussions regarding Siteserv because he personally handled Mr Denis O’Brien’s relationship with IBRC. He stated a different executive in IBRC, Mr Tom Hunersen, had handled the Siteserv transaction.

This is worrying because, three years earlier, a posting (in comments) appeared on the broadsheet.ie website suggesting Mr Aynsley, Mr Hunersen and Mr O’Brien were socialising together at the time when the transaction in case was taking place.

It is also worrying that Mr O’Brien was reported in 2014 by The Irish Times as having made a major investment in a Massachusetts-based IT firm in which Mr Hunersen was one of the moving parties. The former chairman of the IBRC claimed Mr Woodhouse had stepped aside from this transaction.

He seems to have re-emerged recently in the context of the story in The Irish Times that many Members of this House read last week. Again, the question arises as to whether there is a connection between him and Mr O’Brien.

A more fundamental question arises as to who is organising the campaign of intelligence-gathering of Mr [Mark[ Hollingsworth, the so-called journalist engaged in coming to Members of this House, among others, and passing himself off as one seeking to identify the source of leaks about Mr O’Brien’s dealings with IBRC. These are very serious issues.

This matter is particularly relevant because, according to the story in The Irish Times, a major British security firm was the recipient of the material collected by Mr. Hollingsworth in Dublin.

We heard later, according to evidence given in the High Court, that a USB key appeared on the desk of Mr O’Brien and that he, for the first time, discovered the material that Mr Hollingsworth was privy to in Dublin.

The use of an English security firm in this respect is not a new phenomenon in Ireland. We should remember also that there was elaborate industrial espionage and surveillance in the context of the takeover of the Independent News & Media group at the time between the O’Reilly interests and the O’Brien interests, if I may use that term.

In that case, newspaper reports indicated that 11 operatives operating from a Dublin hotel were engaged in fairly extensive surveillance of the then managing director of Independent News & Media and that it was eventually determined that an English espionage firm or intelligence-gathering firm called Esoteric lay behind that.

Surprisingly, Independent News & Media, which later came under the control of Mr O’Brien, largely speaking, has been unable to work out who commissioned that investigation.

I am also worried in another respect. It was reported in the media that Irish Water had concluded an extensive contract with a company in the Isle of Man [Another 9 or A9 Business Recovery Services] chaired by Mr Leslie Buckley and, in which, Mr Denis O’Brien was a large investor. He is described in its publicity material as a leading Irish entrepreneur.

The function of that company is to advise Irish Water against the hacking of its sites. It appears the main business of this company in the Isle of Man, which is owned by Mr O’Brien and chaired by Mr Buckley, an associate of Mr. O’Brien, concerns computer security and countermeasures against computer hacking.

Although no particular figure was put on the computer security services of Irish Water, it is interesting that it was suggested in the media at the time that, over five years, €1.2 million was spent on this kind of activity on the part of Irish Water.

One must bear in mind also that at least one of the newspapers controlled by Mr O’Brien has, since the emergence of the dispute about water charges and the legislation we considered in this House some days ago, run a fairly heavy campaign, with many editorials and articles, on the subject of Irish Water. This is a serious matter.

I will finish on two points. Last week in a different context, although Mr O’Brien had a walk-on part in it, the Ceann Comhairle, as Chairman of Dáil Éireann, publicly queried whether it would be necessary to introduce a system of fines to strengthen the powers of the Chair to prevent the abuse of Dáil privilege.

This House has its own Standing Orders, its independence and its own Committee on Procedure and Privileges.

As a member of that committee, I do not believe Members of this House are disposed to abusing their privilege at all, nor do I believe the use of financial penalties to preserve the privacy of important people the Irish political and economic environment should be permitted by this House. I do not believe we should go down that road. It is for the other House to make up its own mind on fines for its Members.

We must remember that these Houses are the defendants in a court action brought by Mr O’Brien. He has sued the institutions of this State. He has also sued individual Members of these Houses on occasion and has threatened to do so on many more occasions.

Free speech is very important. As far as I am concerned, the Cregan commission is dealing with just one set of issues, the activities of the IBRC, only some of which involve Mr O’Brien or companies connected with him.

However, there are other major issues to be borne in mind arising from the Moriarty report, which found Mr O’Brien had indirectly channelled the guts of €1 million to former [Fine Gael] Minister, Deputy [Michael] Lowry, after the awarding of a telecommunications licence to him.

It found that elaborate efforts to deceive the Moriarty tribunal had been made, including the falsification of letters to cover up the involvement of the relevant parties. I wish all speed and every success to the Cregan commission.

I welcome this legislation. Members have an obligation to be fair but not to be entirely impartial but it is important that these issues be dealt with in a process that is fair and impartial and, above all, has the means of establishing the truth, because the Irish people do deserve the truth.

Transcript via Oireachtas.ie

Previously: The Journalist Who Came In From The Cold

Timeline To A Killing

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Finance Minister Michael Noonan on Six One this evening

Finance Minister Michael Noonan appeared on RTÉ’s Six One this evening to explain why a Commission of Inquiry will be carried out into certain transactions by IBRC.

“What has changed my mind on the process [of a review into IBRC] is that, since then, new allegations have been made. There’s no evidence underpinning any allegations but the allegations are now causing public concern and the review, in my view, is insufficient to deal with the new allegations so I recommended that the Government do a full Commission of Investigation which would report but the end of the year…”

“A new set of allegations emerged, surrounding the speech made by Deputy Catherine Murphy in the Dáil and that, together with the fact that there were cases before the courts about the publication of Deputy Murphy’s speech heightened public concern and I believe, at this stage, it’s in the public interest to put the matter in the hands of a judge who, under the powers of the 2004 Act will examine everything, including the original allegations which gave rise to the review by the liquidators and  taking into account the new allegations as well…”

“There may be wrongdoing but, if there is, there’s no evidence of it in any set of allegations. And all we have is a series of allegations but there’s public disquiet, it’s increasing, it’s in the public interest to have these matters fully investigated. We can’t have a belief going around that there was actions that were improper and that, in some way or another, the taxpayer lost out…”

When pressed by host Brian Dobson about the drip feed of information, following the way in which he answered questions put to him in the Dáil by Catherine Murphy – she asked 19 parliamentary questions before she got a comprehensive reply – Mr Noonan said:

“I answered questions, absolutely fully in the way questions are answered in the Dáil. There were full answers made but, obviously, if you go for Freedom of Information and look for a full file, you’ll get background information as well. But there’s a methodology in the Dáil, if somebody feels the answers they got are inadequate. They can refer it to the Ceann Comhairle and adjudicate. Now the questions were adequately answered and of course there’s a drip feed of information – there’s thousands of documents, thousands of pages of documents in IBRC and thousands in the Department of Finance… You don’t produce full files when one specific question is asked”

Mr Noonan’s department has also released a four-page document containing the draft terms of the inquiry.

From the draft:

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Meanwhile…Philip Ryan in the Irish Independent reported tonight:

“The Department of Finance has discovered a tranche of board meeting minutes from the Irish Bank Resolution Company (IBRC) which Finance Minister Michael Noonan previously said he had not received.”

“The minutes include the IBRC board meeting where the sale of Siteserv to a company owned by businessman Denis O’Brien was discussed. However, the details of the sale, including the payment of €5m to Siteserv shareholders, was not outlined in the documents… A Department of Finance source said the files, which are described as ‘board packs’ were “incorrectly filed” in the Department and only recently discovered… A Department of Finance source said the documents do not change the fact that the Minister was not made aware of the details of the Siteserv deal or any other significant transactions at IBRC.”


The Department of Finance has since published the minutes from the meeting on March 15 2012:

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Readers will note the presence of former IBRC senior executive Richard Woodhouse at the meeting on March 15, 2012.

But, following a press conference held by former IBRC chairman Alan Dukes on April 24 of this year, the Irish Times reported, on April 25, that:

Mr Dukes also revealed that Richard Woodhouse, then IBRC’s head of asset management, was kept out of discussions over the Siteserv deal within IBRC, as he also managed the relationship between the bank and Mr O’Brien. ‘We appointed Tom Hunerson instead, and also Peter Rossiter, the chief risk officer, to oversee the transaction,’ said Mr Dukes.”


Previously: NOKPMG!

Government gives go-ahead for commission of investigation into certain IBRC transactions (Philip Ryan, Irish Independent)

Noonan says inquiry will examine preferential interest rates given to IBRC clients (RTE)

Siteserv: attacks on civil servants ‘regrettable’, says Moran (Irish Times)