Siteserv

Siteserv report finds €8.7m lost at taxpayers’ expense due to sale of company

Commission of investigation, headed by Mr Justice Brian Cregan, was set up in 2015 to investigate the sale of the company by the Irish Bank Resolution Company

The commission’s report found that Siteserv had loans worth €156 million from Anglo Irish Bank, but just €44.3 million of this was recovered from its sale to a company controlled by businessman Denis O’Brien in 2012. Picture: Rollingnews.ie

Up to €8.7 million was lost at taxpayers' expense due to the sale of Siteserv to a company controlled by businessman Denis O’Brien, a commission of investigation has found.

The commission, headed by Mr Justice Brian Cregan, was set up in 2015 to investigate the sale of the company by the Irish Bank Resolution Company (IBRC), the vehicle set up by the state to wind down Anglo Irish Bank.

The commission’s report found that Siteserv ...