Enda Kenny slammed over broken IBRC promise
At the centre of the allegations are major write-offs by the bank of debt relating to 38 people, at a cost to taxpayers of €1.2bn. These huge right-offs are to be probed as part of the commission of investigation which is looking into Denis O’Brien’s Siteserv company, Millington, which saw the taxpayer hit with a €119m loss.
Under mounting pressure last year, the taoiseach was forced to order a commission of investigation into the sale of SiteServ and other transactions at the IBRC.
In the wake of the release of the latest report from the Cregan Commission at 9pm on the Friday of a bank holiday weekend, Ms Murphy has been scathing in her condemnation of Mr Kenny’s failure to do what he promised to last November.
“I met with the then Taoiseach Enda Kenny along with other opposition leaders and we outlined very clearly what needed to happen for this to progress.
“The Taoiseach gave a commitment at that meeting that he would have the appropriate legislation drafted and circulated before the Dáil resumed in January where it could be progressed as a matter of urgency. We are still waiting for that urgency,” she said.
Ms Murphy has also highlighted the contents of the report in which Justice Cregan claimed he is hamstrung by legislative obstacles and as such cannot overcome the issues of privilege and confidentiality being asserted by the Department of Finance and the special liquidators of IBRC.
She said: “I think everyone can see the timing for what it is. 9pm on the Friday of a bank holiday and following the announcement of a deal between the two big parties seems like a very obvious case of media management — trying to limit people’s exposure to the failings of the system surrounding the Cregan investigation.”
Because of the uncertainly the commission is unable to estimate its future costs. But the report said they will be “very significant” if it is required to investigate all 38 transactions.
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