Siteserv

Commission of Investigation into Siteserv to be shut down

Taoiseach Micheál Martin confirmed that the commission had cost €12.1 million so far with legal bills for witnesses yet to be settled

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

Taoiseach Micheál Martin has said that he is shutting down the Commission of Investigation which reported on the sale of Siteserv to avoid a “further escalation of costs”.

The commission found that 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.

The sale had been approved by the board of Irish Bank Resolution Company (IBRC), the vehicle set up by the ...