'It is very frustrating to see it': Developers buy back Nama loans at discounts

Nama developers have been able to buy back billions of euro worth of loans at massive discounts because of a major flaw in the laws which set the bad bank up a decade ago.

This was revealed at a meeting of the Oireachtas public accounts committee (PAC) where it was confirmed one of the major protections to the taxpayer in the original Nama Act is “effectively meaningless”.