TDs want NAMA to return before Public Accounts Committee

TDs are calling on NAMA to return before the Public Accounts Committee, after its evidence was contradicted by a major bidder for its loans.

Thu, 10 Nov, 2016 - 20:59

TDs are calling on Nama to return before the Public Accounts Committee, after its evidence was contradicted by a major bidder for its loans.

Nama told the PAC that it had forced Pimco to pull out of buying its Northern Ireland loans after revealing a fixer's fee for Frank Cushnahan.

However, Pimco claims that is not true - and also says it was directly approached by a law firm about the prospect of buy them.

This is the PIMCO letter - it's on the PAC website. Big questions for NAMA - PIMCO flatly contradict their evidence https://t.co/1YLtaRMGGk
— Mary Lou McDonald (@MaryLouMcDonald) November 10, 2016

Sinn Féin's Mary Lou McDonald says the statement undermines the previous evidence given by Nama.

"I think this letter is a game-changer," she said.

"It now seesm that actually Project Eagle was conceived of, not by Pimco, as Nama had asserted, but actually by Brown Rudnik, along with Tughans and Mr Frank Cushnahan."