Business Irish

Saturday 18 November 2017

NAMA considers suing ex-worker for damages

Tim Healy

A FORMER NAMA employee may face a damages claims over his alleged "extensive" misappropriation of highly confidential data related to the agency's work.

It is alleged Enda Farrell passed the information on to his wife and others, including a master spreadsheet of all loans and properties acquired by NAMA, according to documents provided to the Commercial Court.

The "dishonest conduct" of Enda Farrell and his wife Alice Kramer, of Knockudder, Dunboyne, Co Meath, may constitute a criminal offence under the NAMA Act 2009, the agency claims.

The National Treasury Management Agency (NTMA) and NAMA has brought the action against Mr Farrell, a former property analyst with the NTMA who was seconded to NAMA, and his wife, an auditor with the Dublin office of Ernst & Young.

Cian Ferriter, counsel for NAMA, said it would take two to three weeks to complete the investigation and he wanted the case adjourned. When the case comes before the court again, NAMA will be able to finally indicate if it intends to lodge a damages claim, he said.

Frank Callanan, for Mr Farrell, said his client intended to co-operate in any way.

Mr Justice Peter Kelly adjourned the case yesterday for four weeks.

Irish Independent

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