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Is Siteserv The Coalitions First Wobble Of 2015?
 
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# 1 : Thursday 23-4-2015 @ 22:18
 
 
Many government figures have privately expressed satisfaction at the way in which things have been so quiet on the political front in the first four months of this year. Just cast your minds back to this time last year when Irish Water, justice issues, pylons and medical cards were all hugely damaging to Fine Gael and Labours fortunes. The polls indicate a corner was turned at the beginning of this year.

But now the Siteserv controversy threatens to undermine that progress.

Do you think this may or may not force the government into a corner and perhaps even make the government call an early election?
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# 2 : Thursday 23-4-2015 @ 22:22
 
 
The inquiry will have no credibility if as planned its headed by a KPMG figure. The problem is that KPMG was involved in the Siteserv sale.

It won't force an early election because with the exception of 1992, a party bringing down the govt in this country does badly in the following election maybe for "I told you so" reasons.
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# 3 : Thursday 23-4-2015 @ 22:23
 
 
Not a chance. Labour need a giveaway budget to stand a chance in the elections, even then it's shaky.
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# 4 : Thursday 23-4-2015 @ 22:25
 
 
Anyway, what would an inquiry find?

a. do you want political interfering and corruption
b. do you want no political interfering and corruption

tada! welcome to the cynic olympics.
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# 5 : Thursday 23-4-2015 @ 22:27
 
 
Starting to get messy now as Alan Dukes has contradicted Michael Noonan's Dail account about Siteserv.....
Wonder who will be the next one to get their marching orders?

The Government’s account to the Dáil of how it dealt with concerns over Denis O’Brien’s acquisition in 2012 of Siteserv has been directly contradicted by Alan Dukes, the former Fine Gael minister for finance and chairman of IBRC.

The sale of Siteserv for €45 million, with a loss to the State of €105 million, will be examined by the Comptroller & Auditor General, Taoiseach Enda Kenny said yesterday.

Michael Noonan, the Minister for Finance, told the Dáil in a written statement last month that he was made aware by his officials of concerns over the deal.

He then said that following a meeting between himself and IBRC, former secretary general of the finance department John Moran was sent to further question former IBRC chief executive Mike Aynsley over the Siteserv transaction at another meeting in August 2012.

This assertion was repeated in the Dáil chamber on Tuesday by Simon Harris, Minister of State at the Department of Finance, when he was queried over the Government’s handling of the matter by Independent TD Catherine Murphy.

Siteserv sale
Mr Dukes, however, says “categorically” that Mr Moran did not raise any such concerns about the Siteserv sale with Mr Aynsley at the August meeting.

“Contrary to what was stated in answer to a recent Dáil question, the matter was not raised” by Mr Moran at the August meeting, Mr Dukes said.

When asked to clarify how he knew this to be the case, he replied: “Mike Aynsley told me himself that Mr Moran did not raise the issue [of Siteserv] at the meeting. He told me this on more than one occasion.”

Mr Moran, who was at a conference in Latvia yesterday evening, said he “couldn’t be sure” whether or not he had raised Siteserv concerns at the meeting until he had a chance to consult his records.

Political row
The deal to sell Siteserv to Millington, an Isle of Man-registered company owned by Mr O’Brien, has sparked a major political row in recent days.

Opposition politicians have rounded on the Government over its handling of concerns raised in 2012 by Mr Noonan’s officials about whether the sale to Millington achieved the best financial result for the State.

The officials’ worries about how the sale was conducted were outlined in heavily redacted internal documents released by the department late last week.

Shortly after the deal officials within the Department of Finance brought their concerns to the Minister’s attention.

They cited concerns such as the risk of potential “conflicts of interest” involving legal and financial advisers involved in the transaction.

They also broached concerns over a €5 million payout to Siteserv’s shareholders and some directors to “induce” them to rubberstamp the deal with Mr O’Brien.

They also highlighted that Mr O’Brien’s was not the highest bid.

In a written reply to a parliamentary question by Ms Murphy, Mr Noonan on March 26th told the Dáil that following his meeting with IBRC, “a further meeting between. . . John Moran and . . . Mr Aynsley took place in August 2012 at which this matter was further discussed.”

http://www.irishtimes.com/business/financial-services/dukes-contr etc ...
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# 6 : Thursday 23-4-2015 @ 22:34
 
 
expect lots of unread "memos" and people "not recalling that being said" but no actual minutes of meetings being furnished.
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# 7 : Thursday 23-4-2015 @ 22:39
 
 
Dennis does very well, when FG are in power and nothing has changed!
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# 8 : Thursday 23-4-2015 @ 22:41
 
 
Someone said :
expect lots of unread "memos" and people "not recalling that being said" but no actual minutes of meetings being furnished.

That should be setting alarm bells ringing.....
Any normal company would be punished by this by the way of a fine etc
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# 9 : Friday 24-4-2015 @ 08:46
 
 
Someone said :

That should be setting alarm bells ringing.....
Any normal company would be punished by this by the way of a fine etc

Didn't Philly engage in that, with Irish Water and FG are just as bad as FF!
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# 10 : Friday 24-4-2015 @ 09:36
 
 
Hardly their first.
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# 11 : Friday 24-4-2015 @ 17:45
 
 
Someone said :

That should be setting alarm bells ringing.....
Any normal company would be punished by this by the way of a fine etc

We've already had episodes of it with Phil Hogan's minuteness meetings with Irish Water. Wonder who will be the scapegoat though.
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# 12 : Friday 24-4-2015 @ 18:08
 
 
Seems like Mr Dukes is looking like he is pushing the blame to the finance department, looks like this debacle will go on and on...

I welcome the minister for Finance saying that every deal that has been done where there was a loss of 10m it will be looked at.....
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# 13 : Friday 24-4-2015 @ 18:34
 
 
Mr Dukes on RTE six one news now saying that the Department of Finance was kept in the loop with all the dealings with siteserv.... But the Department of Finance claims they didn't know anything about the 5million payment to shareholders....
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# 14 : Friday 24-4-2015 @ 20:16
 
 
Politicians shouldn't be appointed to state boards.
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# 15 : Saturday 25-4-2015 @ 12:08
 
 
Mr Dukes traced the deterioration of his relationship with the Department of Finance to a request by the then-head of the department John Moran to join the board of IBRC.

Mr Dukes said he felt it would not be appropriate for Mr Moran to join the board.

In a statement to RTÉ News, Mr Moran said he finds it "regrettable and a step back to pre-crisis mindsets among bank management that what seems to have been happening today are personal attacks on civil servants asking the right questions, who were representing after-all the new shareholders of those banks - the taxpayers."

He continued that it might have been better to use the time available to deal with the substance of the issues raised by both the department and other public representatives.

Mr. Moran said he would be happy to answer any other important issues after reading transcripts of all that was said about him and former colleagues in the department.

He also said that he has been in Luxembourg and Riga all week helping to move forward the €315bn Junker plan for Europe.

"As a result, I do not think it appropriate for me to rush to comment on things said today in my absence, which might be out of context, until I have had an opportunity to read a transcript of all that was said about me and former colleagues in the Department", he said.

Last night, Minister for Finance Michael Noonan announced a review of the sale of Siteserv and other transactions by the IBRC, formerly Anglo Irish Bank.
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