PAC report criticises Dublin Docklands Development Authority

The Public Accounts Committee has published a report which is critical of the Dublin Docklands Development Authority.

The report found that poor analysis and decision making were at the root cause of the demise of the DDDA.

The report also details how the authority came into difficulty in following a joint venture with a company owned by Bernard Mc Namara to purchase the old Irish Glass Bottle Site in Ringsend in 2006.

The deal cost the State €52m and there was a subsequent there was a potential exposure of €82m when Nama got involved and relieved the DDDA of the debt.

The authority is due to be dissolved, however the PAC has recommended that the it remain in existence until liabilities arising from the need to remedy fire and structural deficiencies at Longboat Quay are resolved.