Irish Glass Bottle Site: How the State purchased property it already owned!
Nov 11th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The former manufacturing plant site of the Irish Glass Bottle Company, was sold for €412 million in 2006, the craziest year of the Irish property bubble. An Irish State agency was among the purchasers while the owner was the Dublin Port Company, a private limited company owned by the State. Now as legal proceedings are underway in the Commercial Court, it's unclear at present what the ultimate exposure of the taxpayer will be for a property currently valued at €60 million.