WEB board gets slap on the wrist

By Jo Hutchison

THE directors of the Waterfront Enterprise Board have been criticised for not declaring their interests, according to an independent report released today.

The report also highlights WEB chairman Gerald Voisin’s failure to disclose his appointment to the board of Allied Irish Bank CI Ltd but finds that this did not distort WEB’s decision to employ Harcourt as the preferred developer for Esplanade Quarter.

In advance of this week’s States debate into the removal of the WEB board over the Esplanade development affair, Comptroller and Auditor General Chris Swinson has been investigating WEB’s procedures concerning the declaration by directors of their business interests, any potential conflicts of interests, and whether the board’s decisions were distorted by undeclared conflicts of interest since 16 June.

In an interim report, Mr Swinson – who also questions whether States Members should be on the board – concludes that between 2005 and June this year, WEB had a register of directors’ interests but directors were not asked by WEB to update their declarations and in practice did not do so.

• Picture: Gerald Voisin

Article posted on 1st July, 2008 - 2.58pm

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