Sunday 4 December 2016

TD Mick Wallace 'told he would be "sorted" for raising issues on sale of NAMA Northern loan book' - Dáil hears

Niall O'Connor and Daniel McConnell

Published 29/09/2015 | 16:43

Mick Wallace
Mick Wallace

Independent TD Mick Wallace has claimed that a representative from a Capital Management company told him he would be 'sorted' for raising issues relating to the sale of NAMA’s Northern loan book.

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Mr Wallace told the Dáil that he was 'summoned' to a meeting by a 'public figure' during which the threat was communicated.

The Wexford deputy said the threat was passed onto him by a representative of Cerberus, the US firm that purchased NAMA’s Project Eagle portfolio of Northern Ireland loans.

Controversy surrounding ‘Project Eagle’ - which involved the sale of a 850 property portfolio for about £1.2 billion - was raised at ‘Leaders’ Questions for a third consecutive Dáil sitting.

Cerberus is in the running to purchase a separate property portfolio known as Project Arrow.

The portfolio involves €8.4 billion in non-performing loans and is made up of significant residential properties in the republic.

During tense scenes in the Dáil, Mr Wallace said the Taoiseach is washing his hands on the controversy.

Mr Wallace claimed Cerberus offered to sell someone their own NAMA loans for 50c in the euro, months before it even bought the loans at all.

He then alleged under privilege that he was told by a representative Cerberus that he would be “sorted” for pursuing the issue.

“Listen, I realise these are serious players,” Mr Wallace said.

“And only recently I was actually summoned to a meeting by  public figure and a message was passed onto me from a leading member of Cerebus Ireland that I was going to get sorted. Now why would they have to say that if I’m telling the truth,” he added.

NAMA representatives are due to appear in front of the Public Accounts Committee (PAC) on Thursday during which the controversy will be discussed.

Cerberus has said it did not make any improper payments or pay any illegal fees in relation to the deal.

Independent.ie have contacted Cerberus and are still awaiting comment.

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