Siteserv had €10m on books but was for sale on ‘cash-free’ basis, says TD

Siteserv had €10m on its balance sheet when sold to Denis O’Brien’s company Millington despite the fact that prospective bidders were told it was for sale on a “cash-free” basis, a TD has claimed.

Catherine Murphy said she has information that Siteserv had the money when sold in 2012 even though the construction company was apparently haemorrhaging cash and owed taxpayers €150m.

She made the claim during a Dáil debate last night and amid calls for a Government-sanctioned review into the sale of Siteserv by IBRC to be scrapped and replaced by a full independent inquiry.