This time last year, it was revealed that NAMA had spent €27,550,000 on legal expenses in the first two years of operation, with the State’s biggest law firm Arthur Cox trousering €3,070,000 of that.

A mere drop in the ocean, friends…

Fees of some €70 million have been paid by Nama, the Department of Finance and two other State bodies for legal advice and services connected to the banking crisis.
An analysis of figures from the department, the National Treasury Management Agency, the National Pension Reserve Fund and Nama shows the State’s largest law firm Arthur Cox was paid some €32 million of this figure since 2008. The firm has provided advice on matters such as the bank guarantee, the restructuring and recapitalisation of the banks and the establishment of Nama.

Yikes.

Bank crisis legal advice cost State €70m (Stephen Carroll, Irish Times)

(Leon Farrell/Photocall Ireland)

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