Mick Wallace (Wexford, Independent) | Oireachtas source

Given that Cerberus is under criminal investigation in two countries for Project Eagle, why has that company not been disqualified from Project Arrow? How, in God's name, can the Government tolerate that? This is a portfolio with a par value of €7.2 billion which NAMA is threatening to sell for something in the region of €1 billion. Some 50% of the portfolio is residential in Ireland, in the South, and we have a housing crisis. How can the Government allow Project Arrow to go ahead? It looks like Cerberus is going buy it.

NAMA has made out that Frank Cushnahan was not privy to sensitive information or anything that was confidential with regard to Project Eagle. There was a meeting on 7 October 2013. Project Eagle was discussed in detail. This included external member feedback. If the external members, who included Frank Cushnahan and Mr. Rowntree, were given feedback, how is this consistent with the proposition that they had no confidential information? It was interesting that the chairman added that he wanted to remind members that the matter was extremely politically sensitive and that absolute confidentiality was required. It is nonsense to suggest that Frank Cushnahan did not have confidential information regarding Project Eagle. It is nonsense for NAMA to suggest that the problems are all about the purchase. There are serious problems about the sale of Project Eagle by NAMA to Cerberus and it stinks to the high heavens.

Is the Government prepared to look at this? Too many questions have not been answered. It is a serious concern for the public because it has cost them dearly. Is the Government prepared to investigate it and initiate an independent investigation? It is seriously required.

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