Nama bosses to tell committee about cut-price deal

Nama chiefs will be hauled before the Dáil’s public spending watchdog on Thursday to address growing concerns about a controversial cut-price deal — linked to a secret €9.8m off-shore account scandal — that saw properties sold for €4bn less than their initial value.

The cross-party public accounts committee confirmed it will grill Nama chief executive Brendan McDonagh and chairman Frank Daly about the sale after questions were raised under Dáil privilege last week.

Speaking during a recent debate on wider Nama issues, Independent TD Mick Wallace asked why the State property management agency sold its 850-property €5.7bn loan book of commercial offices in Belfast in 2014 to a US equity fund for €1.6bn.