Project Eagle probe to focus on Michael Noonan’s role in sell-off

Project Eagle is facing an inquiry on whether the right strategy was used by Nama to sell the portfolio and if the finance minister acted correctly.

The Government’s agreement to investigate Nama’s largest sale of property assets will pile pressure on Finance Minister Michael Noonan, who recently said there were insufficient grounds for a probe.

An interim report on the new commission of investigation will be provided in three months while the judge overseeing it — yet to be decided — will have a year to complete the work.