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Adams raises NAMA Project Eagle in the Dáil

31 May, 2016 - by Gerry Adams TD


Sinn Féin President Gerry Adams TD has called on the Taoiseach to immediately establish a Commission of Investigation into the sale of NAMA’s Northern loan book, Project Eagle.

Teachta Adams said:

“For years now, Sinn Féin have raised concerns about the sale of NAMA's loan books, especially the sale and purchase process of Project Eagle. Both the Taoiseach and the former Tánaiste Joan Burton accused the Opposition of ‘conflating’ the matter. Deputy Burton actually described it as just a ‘Northern tale’. It is actually a national debacle.

“The sale and purchase process of NAMA’s Northern loan book has been the subject of serious allegations of a cosy cartel of insider trading, payments for the golden circle, and the payment of illegal fixer fees.

“NAMA previously claimed that its Northern Advisory Committee was not privy to confidential information regarding the sale. It has since been disclosed that the Committee discussed potential purchasers on at least two occasions before the loan book was sold at a huge loss to Irish taxpayers.

“NAMA’s Chairman, Mr. Frank Daly said he briefed Minister Noonan in full, including on the scandal of the £15 million fixer fee, which is totally irregular, and illegal.

“The Minister accepts this, but he failed to suspend the Project Eagle sale process or inform the Office of First and deputy First Ministers.  Again, the Assembly enquiry noted with regret this failure.

“In the public interest, the whole matter must be fully investigated to get to the bottom of allegations of wrongdoing and cosy cartels which has cost the Irish State hundreds of millions of euro. The Government should commit to the immediate establishment of a Commission of Investigation into the sale of Project Eagle.” 

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