Docklands body seeks state aid
The value of the controversial Glass Bottle site in Ringsend that it bought for €412m in 2006 with real-estate developers Derek Quinlan and Bernard McNamara in 2006 had fallen to €50m at the end of 2008.
The authority said it had taken “an exceptionally aggressive” approach to property writedowns last year. It posted an operating loss of €27m for last year, according to its annual report and acknowledged that public confidence in the authority had been “seriously undermined” in recent months.
