Q&A: What exactly is the ‘Project Eagle’ scandal and why should we care?

The Government is coming under increasing pressure to establish a commission of investigation into the sale of Nama’s Northern Ireland loan book. Joyce Fegan sets out the what, who, why and when of the story.  

What is the Project Eagle scandal?

In April 2014, Nama said it had completed the auction of a huge bundle of distressed loans, known as the Project Eagle portfolio. The sale involved loans advanced during the boom years by Dublin banks to property developers in the North.