![]() ![]() However, a report by the Comptroller & Auditor General (C&AG) Séamus McCarthy estimated the agency could have earned about £190 million more for the assets.Īsked at a PAC hearing yesterday, by Mr Mac Sharry, if they had heard the reports that Fortress had hired lawyers to review the sale, Minister for Finance Michael Noonan, and two of his officials, Ann Nolan and Declan Reid, said they were not aware of this. The losing bidder for Nama’s Northern Ireland loans may be considering legal action over the €1.6 billion deal, the Dáil’s Public Accounts Committee (PAC) heard yesterday.Ĭommittee member Marc Mac Sharry, a Fianna Fáil TD, claimed that US company Fortress, which lost out to rival investor Cerberus in the race to buy the loans, has hired London lawyers Slaughter and May to review the deal.įortress and Cerberus became the only remaining bidders for the loans, known as Project Eagle, in March 2014, after another firm, Pimco, was forced out when it emerged it had agreed to pay £15 million to former Nama advisor Frank Cushnahan, Belfast solicitors Tughans and US lawyers Brown Rudnick.Ĭerberus succeed in buying the loans with a £1.241 billion bid, an offer which Nama said was more than its reserve price for the assets. ![]()
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