Lorraine Higgins (Labour) | Oireachtas source

I apologise. It will not happen again. This communication may be prejudicial to NAMA's customer and has left the State and the taxpayer exposed to a potential claim for damages for hundreds of millions. It is quite clear to me that NAMA did not act in the best interest of its customer in this instance. My concern is that this may very well be the tip of the iceberg. Will the State be left exposed to other potential claims as a result of how NAMA conducts its business? That is of utmost concern to me.

This is not the only incident regarding this individual. It was reported in the Sunday Independent only last week that the individual in question also dealt with a property transaction at St. James' Square in London which was bought by a company, of which he became a partner immediately after leaving NAMA. I wonder at the level and manner of contacts there were between this individual and the people of Prime London Partners while the negotiation process was in train.

What contracts were there between the London property investment company and the former NAMA employee since the deal's completion? Did they have contact regarding other potential or actual deals between the completion of the St. James's Square deal and his departure from NAMA?

We must remember that this is the very same individual involved in the sale of a property to another NAMA employee who was the subject of an internal investigation, and all these combined actions are possibly significantly undermining NAMA's ability to recover the optimum amount for its assets and return for the Irish taxpayer. The individual I speak of is the same person who tried to silence me on an issue by threatening me with legal action when I mentioned non-compete clauses in contracts for NAMA employees. I wonder if he telephoned my office and left the voicemail because of the details I have submitted to the House this evening and if he was afraid of them coming in to the public domain. In view of the seriousness of the matters I have brought before the House, I request the Minister for Finance to instruct the Garda Commissioner in what I would consider a most serious issue of misconduct, particularly in respect of potential offences under the Data Protection Acts, the Official Secrets Acts, the National Treasury Management Agency Act and the NAMA Act. This investigation should not be restricted just to the legal aspects of these issues and should largely incorporate examination of the potential risks of possible future claims against this State arising from the actions of employees or former employees of NAMA.

The board of NAMA should be directed to implement a risk management policy to incorporate all the issues I have brought before the House. Ultimately, we must protect the family silver and we cannot have practices like this being facilitated for possible personal gain by people who are very conflicted. It is clear the agency and the taxpayer remains vulnerable to abuse by the actions of employees past and present, which is why I have raised the matter this evening. I look forward to the response of the Minister for Finance.