Dublin Docklands Authority reveals €186m in losses

The Dublin Docklands Development Authority has published losses of €186m.

Its annual report reveals a deficit of €27m last year, compared with a €3m surplus in 2007.

The authority is blaming the collapse of the Irish property market as well as a High Court ruling against it over the use of its statutory planning powers.

In a statement, the organisation said financial support from the Government and a radical new approach will restore the project to financial health.