Nama stands behind sale of €6.3bn in loans

Nama has stood behind the sale of £4.5bn (€6.3bn) loans in the North, saying it remains fully satisfied that taxpayers got the best possible price in a deal struck with Cerberus Capital that was completed last year.

The controversy about the huge sale of loans secured on about 850 properties, codenamed Project Eagle, reignited on Thursday.

Independent TD Mick Wallace alleged in the Dáil that £7m in fees paid to the Belfast law firm Tughans for its work as an adviser on Project Eagle “ended up” in an Isle of Man account.