The State set up a Commission of Investigation to examine the sale of building services group Sitserve to billionaire Denis O’Brien. The sale took place during the financial crisis.
Siteserve was heavily indebted to the Irish Bank Resolution Corporation at the time it was sold to the Denis O’Brien-owned Millington.
IBRC was made up of the two collapsed banks, Anglo Irish Bank and Irish Nationwide Building Society.
It was sold for €45 million in 2012. IBRC wrote off €119 of the €150 it was owed.
The report concludes that the State could have made an extra €8 million from the sale.
Taoiseach Micheál Martin has said the inquiry will cost in excess of €30 million. The Dáil has heard claims that the inquiry could cost €70 million.
Spending either €30 million or €70 million to investigate wasting €8 million sounds absurd.
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