Nama Scandal: Noonan ‘shot down’ request for closed deal plan

Finance Minister Michael Noonan shot down a request by a US law firm for a closed and exclusive sale of Nama’s €5.7bn Northern loan book, after Sammy Wilson, the North’s finance minister, forwarded the company’s request to him and said it had introduced him to interested investors.

Mr Wilson told Mr Noonan by letter in June 2013 that there would be “advantages” for both North and South in pursuing the proposals from law firm Brown Rudnick.

Brown Rudnick had written to Mr Wilson saying two clients were interested in buying the loan book, as long as it was an “exclusive”, confidential and quick deal.