The Environment Minister has said that the Government will wind up the Dublin Docklands Development Authority.
Phil Hogan said that the decision was made because of the Authority's uncertain financial outlook and the findings of a report by the Comptroller and Auditor General.
The report published today strongly criticised the Authority’s handling of the 2006 purchase of the former Irish Glass Bottle site in Ringsend.
The 25-acre site - which was bought by Becbay for €412 million - is now worth an estimated €30 million.
Minister Hogan said that the Authority should remain in place for a transitional period of a maximum of 18 months.