« BackReport into sale of NAMA’s Project Eagle to be brought to cabinet today

NamaA report which says the taxpayer may have lost hundreds of millions in NAMA’s sale of its Northern loanbook will be discussed at the Cabinet this morning.

Once the report is published this week it’s likely to result in further calls for a Commission of Investigation.

However the Taoiseach has warned there could be legal issues in trying to establish a cross border investigation.
The sale in 2014 of NAMA’s northern loans, known as Project Eagle, to the US investment giant Cerberus for around 1.6 billion euro has been dogged in controversy.
And now this report from the Comptroller and Auditor General, which runs to some 700 pages, is expected to suggest the taxpayer ultimately could have lost out on hundreds of millions of euro.
It’s likely to pile further pressure on the government that has so far rejected calls for a commission of Investigation.
Probes are already underway by the UK’s National Crime Agency, the Gardaí, the FBI in the US, and the Securities and Exchange Commission.
The Taoiseach says he doesn’t want to prejudice any of those investigations, and wants to be certain that a Commission of Investigation wouldn’t be hindered legally as he says it would be committing significant sums of taxpayer money.