Tuesday 24 October 2017

NAMA to appear before PAC over sale of Northern Ireland loan book

Independent TD Mick Wallace made the claims in the Dáil
Independent TD Mick Wallace made the claims in the Dáil
Philip Ryan

Philip Ryan

THE National Assets Management Agency (NAMA) will come before the Oireachtas Public Accounts Committee (PAC) to face questions over the ongoing controversy surrounding the sale of its Northern Ireland loan book.

Independent.ie has learned the committee has scheduled a meeting with NAMA for this Thursday.

The controversy was sparked by Independent TD Mick Wallace who used Dail privilege to claim a secret bank account was established in the Isle of Man by a lawyer, who was working for Tughans - the law firm involved in buying the loan book.

Read more: Private equity group at centre of Mick Wallace Dail allegations denies making any improper payments 

Mr Wallace said the Isle of Man account was earmarked for an unnamed Northern Ireland politician and contained €9.8m.

The lawyer, named by Tughans as former managing partner Ian Coulter,  has since left the law firm and the money was retrieved from the Isle of Man account by Tughans who have reported the matter to the Northern Ireland Law Society.

PAC member and Limerick Fine Gael TD Patrick O'Donovan said he was "anxious" for NAMA to answer questions surrounding the sale.

"I think that it would help if NAMA came before us as soon as possible to answer questions so that the air can be cleared," Mr Donovan told Independent.ie

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