Saturday 22 July 2017

Lisney embroiled in Nama report row

Economist Jim Power
Economist Jim Power
Samantha McCaughren

Samantha McCaughren

Nama continues to be embroiled in a row with the authors of a highly-critical report into a number of its largest sales that claimed taxpayers had potentially lost out on €18bn. Written by economist Jim Power, it was commissioned by David Daly, a developer and former Nama debtor.

However, on Friday evening, estate agents Lisney said it wished to withdraw a statement issued last Monday which sought to distance itself from the report.

The Sunday Business Post had reported that the document about Nama was "prepared by economist Jim Power and validated by Lisney".

Originally Lisney issued a statement insisting it had only a limited role in the report's preparation.

"Lisney did not validate the numbers in the report or verify the report as was reported in the Sunday Business Post," said the first statement.

It said that its involvment related to an appendix detailing 11 properties that were sold "details of which were in the public domain and reported in national newspapers."

However, on Friday Lisney issued a new statement which said: "We wish to clarify that, while we provided input to Jim Power's report, we did not have final editorial control over his report. We regret any misunderstanding regarding this matter."

Nama has issued a 2,000-word document rejecting the report's findings, saying it "lacks rigour and objectivity, is riddled with errors and undermined by unrealistic or invalid assumptions".

Last week, the Sunday Business Post and the team behind the report, David Daly and Jim Power, rejected that assertion.

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