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HEAVILY REDACTED DOCUMENTS, released under FOI, highlight senior government officials’ concerns about a number of “poorly executed” large transactions made by IBRC, the former Anglo Irish Bank.
The documents are largely blacked out, but several key portions show Department of Finance officials’ concerns about transactions, including the 2012 sale of Siteserv to the Denis O’Brien-owned company Millington for €45 million.
The documents were released under Freedom of Information to the independent TD Catherine Murphy who has been pursuing the matter for some time.
The FOI release does not include a schedule of all records related to the matter, which is normally the case when documents are released. It also does not give any explicit reason for the documents being largely redacted. We understand that Murphy was told the redcations were for reasons of commercial sensitivity.
Taoiseach Enda Kenny has this afternoon said there will be a further FOI release tomorrow.
Here are a couple of key portions…
In this July 2012 briefing note to senior Department of Finance officials, including then-secretary general John Moran, concerns are expressed about the execution of some transactions and the performance of then-IBRC chief executive Mike Aynsley.
“The performance of management in executing these transactions raises the question of the effectiveness of the CEO,” the note states.
The same note also outlines a proposed approach for the meeting with IBRC officials and says the bank’s chairman Alan Dukes should commission a ‘full independent review’ into the Siteserv transaction.
It states that the Minister for Finance Michael Noonan is “very concerned” about how a large number of transactions have been handled.
As a result, the note says, the Department has questioned the effectiveness of the CEO and the management team:
In a separate briefing note, prepared for Noonan ahead of his meeting with the IBRC chief executive, the concerns about the Siteserv transaction are outlined including
Murphy has said the heavily-redacted files contradict responses to parliamentary questions she received from Finance Minister Michael Noonan and raise questions about the eventual liquidation of IBRC as part of the promissory note arrangement in 2013.
The former chairman of Alan Dukes, has rejected any suggestions of impropriety in the sale of SiteServ. Noonan has said he is satisfied he took sufficient action on the issue.
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IBRC write off €100million of Siteserv’s debt, and the distribute €5million to Siteserv’s shareholders just says it all really you wouldn’t even need to read the rest!
Just watched the dail. Enda Kenny refusing to answer questions is a disgrace. He works for the people of Ireland who pay his and his governments wages and his disrespect to the people is disgraceful. The people deserve answers and the truth and not waffle.
This should be enough to bring down the government if it was to be reported on properly.
Hopefully, it will be brought down, bringing SF into power – I await the day that we can usher in a new golden age of prosperity in the south.
Could you imagine the outcry from Fine Gael and others if Sinn Féin released a document like that.
It’s time to go Enda and Michael your arrogance and pomposity for the Irish people is no longer tolerable.
Commercial sensitivity is the new buzzword to use that allows rich folk to be above the law
You’d miss “In the National Interest ” ……
This has all the hallmarks of a Lowryist deal. Surely there must be some journalists eager to get to the bottom of this “Watergate” scandal and make a name for themselves. It has a whiff of Government collapse about it.
Part of the problem is the Government try to restrict all information relating to their decisions……
During the financial crisis, new censorship laws within “The Credit Institutions (Stabilisation) Act 2010” were used to hide decisions from public view around bank restructuring. Section 60 of the act made it illegal to disclose what decisions the Finance Minister ordered, but also made it illegal to report that Section 60 was being invoked. In effect this was a super injunction stopping journalists reporting on the fact that they were not allowed to report.
Al Ca, you’re well informed and helpful. Thank you!
59.— (1) A person shall not publish the fact that the Minister proposes to make or has made a proposed direction order, proposed special management order, proposed subordinated liabilities order or proposed transfer order unless required to do so by an enactment.
60.— The Court may order that any application under this Act, or any part of such an application, shall be heard otherwise than in public or may impose restrictions with regard to the disclosure in open court, publication or reporting of any material that might be commercially sensitive.
Al ca surely a journalist should report on such an anti democratic law. If our democracy is being eroded where are these journalists. The Sunday world can go around getting information on gang members why can they not report on these more serious matters.
Gossip is the cloak they make to hide behind – Keep Paddy talking about everything except the fact that he is one of the wealthiest people on the planet due to his citizenship …..
When you look back over the last couple of years it has been the Independent T D’s who have been setting the pace in the Dail. Keep the great work up Catherine.
Yes. Well done Catherine Murphy! You are providing a invaluable service to us all.
May we have a LOT more of you in the next government.
How can they be trusted to represent our best interests if they have no problem hiding information from us.
I’d say the shredders are busy today in advance if tomorrow’s FOI release!
Dob, enda and their rat fg and labour carpetbaggers. Treasonous filth and main enemies of the people and state.
Don’t hod back there Joe .
Let it all out, think you’re sitting on the fence a little.
Why would he let it all out with redaction the new buzzword for propaganda
Dead right Joe, there is no other way to reason it.
They ALL seem to be acting against the people of this state. In another time they would have been up against a wall.
This is what a government does when it’s corrupted and scared of the people .
We need to force an election they have lost the mandate to govern the country.
Go to your government TDs office and put pressure on them locally to publish the unredacted information , who the hell do they think they are .
In any other country in the European union such a scandal, and a refusal to investigate it, would result in resignations – a concept totally unheard of in our parliament.
Fair play to Murphy
Independents have a bigger role than we think….she could do serious damage here if she gets the support this deserves she needs the backing of the uncontrolled O Brien media wagon to grab this and run with it… Lot more to come on this one thinks !!!!
This is getting very serious ryt now..potential to bring down the government i say..wheres labours back bone now..ehh
They had a back bone?
And from what we do hear, all concerned were happy with their performance. Beggars belief that they can get away with this kind of self assessment. It the oppostion and the media don’t get stuck into this in the most effective way possible i give up. You couldn’t get a clearer example of corruption in the state.
Good to see the civil servants doing their jobs properly, it’s a pity our public servants the TDS fail to do theirs.
@Paul
Catherine Murphy, a TD, has been the one pushing this and has now exposed it via the repeated FOI requests. Most of them are a waste of space but she seems to be one of the good ones. Credit where credit is due.
With Catherine Murphy now added to the list, along with Stephen Donnelly, we now have two TDs in the Dáil who may be worthy of a vote. Things are looking 100% less bleak today!
@Mike you are 100%correct I was mostly referring to government TDs and some others.
Freedom of Information, my arse!!!! This is a joke! Makes me really angry
It’s only freedom of information when large companies want your personal details.
Did you know that Maria cahill is trilling luke flanagan on twitter over his criticism of independent newspaper. Mad stuff
*trolling
Keep up the good fight comrade Higgins. Lets not let allegations of covering-up rape get in our way.
Nobody is talking about rape. Go check the tweets yourself. She’s trolling
They’re scared shitless of the MING …… AND HE AS HARMLESS AS ANY TOOTER ….
Ming is not harmless… he’s actually a decent politician. The rest of them HATE that
What is a tooter?
A tooter toots ….. same as a duber or a “cannabis user” – as the criminals running the country call it !
Five Spot Howlin knows all about it – not sure if he knows that he was called five spot though – it was a reference to his meanness was the way I heard it begorrah and begosh !…..
Whoever you vote for, the current political system is at its end. It does not benefit the people who pay taxes in this country. It benefits the rich elite and corporations. Through direct action and highlighting these issues we can change the way we govern ourselves. I don’t know about you’s, but the action i’ve seen taken through grass roots movements such as the Right2Water movement has weighed out any action I’ve seen from us electing people to go into the Dail to fight a hopeless case for the lower and middle class. Direct action and solidarity will end the elite, we just have to realise it won’t come about through electing people to represent us in a redundant political system.
If this were an American movie, or TV show, we’d be close to the point where the Feds start gathering boxes of evidence from these cowboys’ offices, while having them investigated for fraud, embezzlement, racketeering and the like. But alas, this isn’t the movies, so instead, I await the non announcement of an “enquiry” or similar such nonsense with baited breath.
Debbie, in a real democracy that’s what would be happening…. alas this is good old Ireland.
The bendiest of Banana Corporatocracies.
Too true. And the most depressing thing is that this story is being described as a “scandal”. To me, a scandal should mean something that shocks people. But at this sad stage, the almost continuos examples of how the “elite” in this country think so little of the general working population, means that very little actually shocks us anymore. It doesn’t make it any less appalling though.
The inquiry will be stalled till after the next election , Enda’s real mantra ‘Paddy doesn’t need to know’ any auld yarn will do for the great unwashed, hope UPC and Sky redact their list of subscribers when Mr White asks for them
Even if you chose to ignore the plethora of scams, dishonesty and general blackguardism that has come to light over the past six years or so, when it comes down to it – if this matter is not FULLY and independently investigated AS A MATTER OF URGENCY (not ten years down the line) then we are completely lost as a country. My compliments to Ms. Catherine Murphy for her diligence, but as it stands the cap on this can of worms is only slightly dislodged. If Indah, Michael and Joan the moan refuse the very necessary investigation they should be dragged from their cosy nests in Leinster house and flung onto the streets to meet summary justice at the hands of any passerby. This state of affairs can’t be allowed to continue in a country that boasts and brags about being a ‘modern democracy’.
Chill Sheikh – this is only the tip of the iceberg …. Jonny Ronan rents the Nama Building to Nama as far as I remember ….
So? Where has “chilling” got any of us so far? It is getting to the stage where civil disorder seems to be the only remedy – not that I would be a fan of that – but if the Government chooses to totally ignore its electorate, what other avenue is there?
I know what you mean – but chill and watch it implode – it is inevitable because they have stepped on too many toes to maintain the cover-up …….
Richard Bruton and Enda will probably do jail time over the Ansbacher Document – The Economic Management Council – they will be ….. it’s a family show so I won’t tell you but let’s just say it don’t end good for them and they asked for it !
Regardless of which party/independent you may or may not support this stinks of corruption and a political cover up and wasn’t done in the best interests of the taxpayer
Unbelievable. I’m so glad I voted for Enda’s ‘end of cronyism’.
In the short space of time that this FG/Lab government has been in existence, it has shown itself to more corrupt than any of the previous governments. They have made a virtue out of lying to those who mistakenly elected it. When they get fked out of office, every one of the ministers including Enda should be brought before the courts to answer for their corruption and fraud.
They cannot be allowed to swan off into the sunset of retirement with their gold plated pensions.
This has gone beyond a joke now.
Why would any td be straight and honest in ireland ? There is no penalties for being corrupt. Even ray burke, after doing time in prison, still gets to keep his lotto win pension. So get voted in, grab all you can, feather your nest and the nests of your cronies, and retire on 5k a week for the rest of your life.
fine gael enriching their friends,and creating new oliagarchs, same as russia.
Looks to me like Denis O’Brien went back to the well from which he originally drank so richly 20 years ago. If one can get away with one “corrupt relationship” (Judge Moriarty’s words, not mine) and make hundreds of millions, why not do it again.
It stinks of corruption to me and the governments are protecting these people but why?
What a great little country to pull strokes.
From what I can see and read re the Siteserve deal, this Government is now finished.
This above all else proves that the main opposition Parties are useless as well …Where were the great republicans of Fianna Fail and Sinn Fein to protect the wealth of the Republic ?
The Cayman Islands ?
Moving money across the border and back again ?
Is it gonna be Noonan or Dukes to be the new Lowry ??????.
Dear Journal, I know this may surprise you, but people can understand titles without the need to have one word capitalised. I know sometimes it looks nice, but it makes no sense at all have ”HEAVILY” in capitals.
Our next government must promise an investigation of all public spending and largesse over the last 40 years, and introduce legislation to draw back money thieved or wasted , and in the case of pensions, clearly just plain undeserved. There are huge numbers of public service and private fat cats with serious wedge about to ride off into the sunset. The people must play a strong second half and give ourselves a reason to be proud of this country again.
They are doing something corrupt every day and they have started to buy votes.do not give them the time, vote no in endas referendums and it will force a GE,guaranteed. To lose 4 referendums is a clear sign of no confidence from the people in endas government.
why is CAB not involved to clear or prosecute people involved?
Surprised the journal would even report this , but fair play
, No.3 on second copy, The Troika had to approve it, and they did.
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