Dáil debates

Tuesday, 14 July 2015

3:45 pm

Photo of Enda KennyEnda Kenny (Mayo, Fine Gael) | Oireachtas source

-----that NAMA would not run an exclusive process but would have to run a competitive and transparent sales process. NAMA subsequently received a third-party approach from a potential buyer to sell the loan portfolio on an exclusive basis. NAMA did not agree with this and instead decided to appoint a lone sale broker, who openly marketed the portfolio of Northern Ireland debtor loans. Later in the process, one of the bidders for that, Pimco, disclosed a proposed fee arrangement to a former member of NAMA's Northern Ireland advisory committee, NIAC. The NIAC had no role in the sale process and while the individual was not a member of NIAC at the time-----

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