News | Latest Breaking News Stories & Headlines

The terms of reference of the inquiry was to assess whether the transaction was 'commercially sound'

Report finds Siteserv deal 'tainted by impropriety'

A report into the sale of Siteserv to a company controlled by Denis O'Brien has found Siteserv's decision to offer the businessman exclusivity on the deal in February 2012 was "tainted by impropriety" from the perspective of the IBRC.

Ireland • 07 Sep 22

Actavo CEO and Chairman Sean Corkery said the company’s growth was 'organically driven across all our divisions over the financial year'

Actavo reports pre-tax profit of €17.9m for 2015

Denis O'Brien's engineering company Actavo – formerly called SiteServ – made a pre-tax profit of €17.9m last year, compared with €14.3m in 2014.

Business • 28 Jul 16

Michael McDowell said he did not think Oireachtas members would abuse privilege

O'Brien's action against Oireachtas criticised

The Seanad has heard criticism of legal action taken by businessman Denis O'Brien against the houses and members of the Oireachtas.

News • 19 Jul 16

Further powers passed to deal with document confidentiality

Dáil passes IBRC legislation giving extra powers

Legislation to give further powers to a Commission of Investigation into some transactions at the Irish Bank Resolution Corporation has passed the final stage in the Dáil.

News • 14 Jul 16

Mr Justice Brian Cregan said legislative changes are needed if the Commission can proceed with its investigation into the Siteserv transaction

IBRC probe stalled over issues of confidentiality

Issues of confidentiality, in relation to documents provided by the Special Liquidators and state institutions, are still plaguing the work of the Commission of Investigation into IBRC.

News • 29 Apr 16

Actavo Chairman and CEO Sean Corkery said the expansion is 'a logical next step for us at this time'

Denis O'Brien's Actavo expands into US

Denis O'Brien's engineering company Actavo, formerly called SiteServ, has expanded into the United States.

Business • 23 Mar 16

Government considering emergency legislation over legal issues

Govt ‘committed’ to addressing IBRC legal issues

Taoiseach Enda Kenny has said the Government is committed to address reservations raised by Mr Justice Brian Cregan over the commission of inquiry into IBRC.

News • 09 Nov 15

The Commission was set up to investigate the sale of assets and loans owned by Anglo now IBRC

Govt considering emergency legislation on inquiry

The Government is considering emergency legislation to deal with legal issues that have prevented the Commission of Inquiry investigating asset "write-offs" as part of its probe into the activities of the IBRC.

News • 08 Nov 15

Catherine Murphy said the minister insisted it would be an inquiry into IBRC

Opposition parties not convinced over IBRC inquiry

Opposition party leaders have said they are not convinced by arguments put forward by Minister for Finance Michael Noonan against the proposed inquiry into IBRC producing an interim report ahead of its year-end deadline.

News • 08 Jun 15

Department of Finance officials said their concerns over the Siteserv deal did not have any bearing on the decision to liquidate IBRC

Siteserv share spike 'months before sale'

The alleged spike in Siteserv shares happened months before its sale, the Public Accounts Committee has heard.

Business • 15 May 15

Michael Noonan said retired High Court Judge Iarfhlaith O'Neill will oversee the review

Noonan defends Siteserv special liquidator review

Minister for Finance Michael Noonan has defended the involvement of the KPMG special liquidators in the review of Siteserv.

News • 07 May 15

Michael Noonan told the Fianna Fáil members it was "your board, your chair, you appointed them"

Government wins vote on Siteserv motion

The Government has won the vote on the Siteserv motion in the Dáil 73 to 43.

News • 06 May 15

IBRC transactions where the write-down was more than €10m are to be reviewed

Retired judge to monitor IBRC review

Minister for Finance Michael Noonan has announced the Terms of Reference for a review of certain transactions carried out by the Irish Bank Resolution Corporation (IBRC), prior to the appointment of the special liquidators.

News • 27 Apr 15

Alan Dukes said there were steps taken to deal with any conflict of interest issues

Dukes says mention of criminality 'outrageous'

Former IBRC chairman Alan Dukes has said he is extremely angry at any suggestion there could be "criminality" in any transactions by IBRC.

News • 25 Apr 15

Enda Kenny said a public inquiry would depend on the outcome of the review

Liquidator's review to go before Cabinet - Kenny

Taoiseach Enda Kenny has said if the Opposition remain concerned following the special liquidator's review into IBRC, the Comptroller and Auditor General may be asked to look at the matter.

News • 24 Apr 15

Walter Hobbs says the initial bid from Denis O'Brien was the highest, while others had multiple terms and conditions

Expert justifies accepting O'Brien Siteserv offer

The independent expert who oversaw the sale of Siteserv for IBRC said Denis O'Brien's offer was accepted because it was the best, simplest and could be completed.

News • 23 Apr 15

Siteserv was sold by IBRC for €45m while €105m was written off by the State

Noonan announces review of IBRC transactions

Minister for Finance Michael Noonan has announced a review of the sale of Siteserv and other transactions by the Irish Bank Resolution Corporation, formerly Anglo Irish Bank.

News • 24 Apr 15

More details on the transaction are to be released tomorrow

Harris says Siteserv sale was seen as 'ordinary'

The Minister of State at the Department of Finance has said the sale of Siteserv by the Irish Bank Resolution Corporation was viewed at the time as "the ordinary course of business".

News • 21 Apr 15

The Department of Finance conducted a review of IBRC's involvement in the deal

Siteserv deal 'completely above board'

The Chief Executive of an engineering company, whose sale was the subject of a review by the Department of Finance, has said that the deal was completely above board.

Business • 13 Mar 15

Noonan assured Siteserv deal best result for State

Minister for Finance Michael Noonan has confirmed his department conducted a review of IBRC's involvement in a deal which resulted in engineering company Siteserv being sold to Millington, a firm controlled by businessman Denis O'Brien.

Business • 13 Mar 15

Mick Wallace used parliamentary privilege to question Siteserv acquisition

O'Brien's Siteserv bid 'questionable' - Wallace

Independent TD Mick Wallace has used parliamentary privilege to level a number of accusations against businessman Denis O'Brien in the Dáil this morning.

News • 09 Oct 14

May new non-exec chairman at Siteserv's DSL

Siteserv, the infrastructure and utilities support group, has appointed Martin May to its board of directors.

Business • 10 Oct 12

Siteserv EGM approves Millington sale

The majority of Siteserv shareholders has voted to sell the company to Millington for €45m.

Business • 05 Apr 12