Nama Project Eagle adviser lands €5.4m payment
The Bermudan-based financial adviser landed a €5.4m payment from the State’s bad bank for approximately three months’ work “to assess market interest, advise on and manage the sale” of Nama’s Northern Ireland debtor loan portfolio, known as Project Eagle.
The sale to Cerberus Capital has been shrouded in controversy after claims made by Independent TD Mick Wallace under Dáil privilege that €9.8m in an Isle of Man bank account was “reportedly earmarked” for an unnamed Northern politician. Further disclosures by Nama chairman Frank Daly at a hearing of the Public Accounts Committee (PAC) last week revealed a former adviser to the bad bank’s Northern Ireland Advisory Committee (NIAC), Frank Cushnahan was one of three third parties that was to be paid a £5m sale fee.
