Site worth two-thirds of the €17.2m-per-acre consortium paid for it, committee told

THE Dublin Docklands Development Authority (DDDA) and Anglo Irish Bank will meet next week to decide how much taxpayers will lose because of a €411 million speculative investment.

Site worth two-thirds of the €17.2m-per-acre consortium paid for it, committee told
Wed, 11 Feb, 2009 - 00:00

The DDDA owns a 26% stake in the former Irish Glass Bottle site in Poolbeg and is part of a consortium which still owes €293m to Anglo.

The authority’s chief executive Paul Maloney said the site is now worth less than two-thirds of the €17.2m-per-acre which the Becbay consortium paid for it.

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CourtsPlace: PoolbegPlace: U2Place: EuropePerson: Paul MaloneyPerson: Bernard McNamaraPerson: MaloneyPerson: Phil HoganPerson: Environment MinisterPerson: John GormleyPerson: HoganPerson: Sean FitzpatrickPerson: Lar BradshawPerson: FitzpatrickPerson: BradshawOrganisation: Dublin Docklands Development AuthorityOrganisation: DDDAOrganisation: Anglo Irish BankOrganisation: BecbayOrganisation: Quinlan PrivateOrganisation: AngloOrganisation: Fine GaelOrganisation: Oireachtas
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