The acting chief of the Dublin Docklands Authority acknowledged a “flawed process” was used to buy the Irish Glass Bottle site for €412m — the most expensive property purchase ever by the State — amid claims a “golden circle” sealed the deal.

Businessmen Bernard McNamara and Derek Quinlan obtained no external valuation in their decision to further write down the value of the former glass bottle site in Ringsend, Dublin, by 40% to €30m, new documents show.

THE Dublin Docklands Development Authority (DDDA) has made considerable progress in its bid to clean up its reputation.