Walbrook Capital is likely to have paid significantly less than the €17m Irish Life gave for its 17% stake in the National Asset Management Agency Investment Limited (Namail).

Michael Keeley, a senior partner in Walbrook Capital, which has taken a 17% stake in the National Asset Management Agency Investment Ltd (Namail) was embroiled in a standoff between the UK Financial Services Authority and Barclays Bank in 2011.