New Anglo chief quits DDDA post in conflict fears

[verbatim]

[*New Anglo chief quits DDDA post in conflict fears - Indo * (New Anglo chief quits DDDA post in conflict fears - Independent.ie)

By Breda Heffernan

Wednesday December 24 2008

THE newly-appointed chairman of Anglo Irish Bank, Donal O’Connor, is to step down as chairman of the Dublin Docklands Development Authority (DDDA) after concerns were raised about “membership crossovers”.

Mr O’Connor said he was resigning from the board of the DDDA to ensure that there can be no suggestion of a conflict of interest.

Sean FitzPatrick, who stepped down as chairman of Anglo Irish last week after he admitted concealing €87m in loans, is a former director of the DDDA. Lar Bradshaw, who also resigned as a director of the bank last week, was chairman of the DDDA up until June of last year.

…

There needs to be an investigation into the links between DDDA and Anglo.

[xman]

A small step in the right direction.

[room305]

Funny how they are concerned about conflicts of interest all of sudden. I’d say they’re more concerned about awkward questions to be honest.

[Ace_Of_Knaves]

@room305

Funny how they are concerned about conflicts of interest all of sudden. I’d say they’re more concerned about awkward questions to be honest.

I’ll go one further and say that i suspect he would still have considerable influence among his pals down there but now will have no official direct ties to them.

[Larry]

WTF??? How the hell many Anglo people were involved in the DDDA?? Seems like half the bankers in Dublin were in on it. Whiffs of a major, major scandal to me (without impugning Mr. O’Connor, who seems to have done the right thing here).

[Dreaded_Estate]

@verbatim

There needs to be an investigation into the links between DDDA and Anglo.

The DDDA needs to be investigated from top to bottom. Looks and smells as rotten as anything as I have seen in Ireland.

[CelloPoint]

Ah but they’re involved in loads of charities.

Great bunch.

[verbatim]

A good compilation of DDDA dodginess over on gavinsblog

gavinsblog.com/2008/12/23/th … nt-page-1/

Having last year entered into a secret arrangement with developer Liam Carroll – which was challenged by Seán Dunne – the DDDA has now been exposed in the High Court to huge compensation claims. The Seán Dunne/Liam Carroll debacle looks set to cost the taxpayer hundreds of millions. As Carroll’s €200m north quay scheme has been rendered null and void and could be pulled down, the developer is bound to look to the DDDA, which greenlighted the project, to bail him out. To date, approximately €83m has been spent on the development. Seán Dunne, too, will be looking for massive compensation.

[gavinsblog]

Ah thanks verbatim.

[verbatim]

New guy in at the DDDA

**Dub Docklands gets a new chairman **

Gerry McCaughey has been appointed Chairperson of the Dublin
Docklands Development Authority by the Minister for the
Environment, Heritage and Local Government, John Gormley

Mr McCaughey was co-founder and ex-CEO of Century Homes, the
timber frame housing business, which was sold to
building-materials company Kingspan in 2005. He left Kingspan in
2008 to pursue private interests

The Minister also announced the appointment of Ms. Yvonne Farrell
to the Executive Board of the Authority. Ms. Farrell is co-founder
of Grafton Architects, a company that has received numerous awards
and has extensively published and exhibited internationally

She replaces Ms. Sheila O’Donnell, of O’Donnell and Toumey
Architects, who resigned from the Executive Board in February 2009

I’ve seen him on a few talk shows and always been impressed. Not the usual friend of FF.

[nosy_parker]

@verbatim

New guy in at the DDDA

**Dub Docklands gets a new chairman **

Gerry McCaughey has been appointed Chairperson of the Dublin
Docklands Development Authority by the Minister for the
Environment, Heritage and Local Government, John Gormley

Mr McCaughey was co-founder and ex-CEO of Century Homes, the
timber frame housing business, which was sold to
building-materials company Kingspan in 2005. He left Kingspan in
2008 to pursue private interests

The Minister also announced the appointment of Ms. Yvonne Farrell
to the Executive Board of the Authority. Ms. Farrell is co-founder
of Grafton Architects, a company that has received numerous awards
and has extensively published and exhibited internationally

She replaces Ms. Sheila O’Donnell, of O’Donnell and Toumey
Architects, who resigned from the Executive Board in February 2009

I’ve seen him on a few talk shows and always been impressed. Not the usual friend of FF.

He ran for the PDs in the 2002 election.
He also lived abroad (Portugal I think) for 2 years to avoid 20% CGT when he sold Century Homes to Kingspan (not sure I’d blame him for that, I’d say most people would do the same in that situation).

[tulip]

Why are people with vested interests in property/building past or present being appointed to this thing. Could they not get someone from Intel/MNC or the voluntary sector to sit on it?

I have an image I can’t shake of the DDDA singing the Simpsons Stonecutters song before meetings

[The_Unwelcome_Guest]

@tulip

Why are people with vested interests in property/building past or present being appointed to this thing.

Because they are the Dublin Docklands DEVELOPMENT Authority and their centrepiece project is a huge Commercial / Residentail / Retail development! If it ain’t broke, don’t fix it!