Nama lost €29m in botched sale of Project Nantes loan portfolio

Brendan McDonagh, Nama chief executive. Picture: RollingNews.ie

The head of Nama has said he was “flabbergasted” to discover that a company that bought loans from it at a discount had a director who had been involved with the loans previously in Ireland.

Brendan McDonagh, chief executive of the agency, said he only discovered the fact in 2018 — six years after the loan sale — on the day that former TD Mick Wallace informed the Dáil.