Minister for Finance Michael Noonan
In case you missed it.
At the weekend…
Hugh O’Connell and Jack Horgan-Jones, in the Sunday Business Post, reported:
Michael Noonan, the Department of Finance and Nama have all been heavily criticised in a damning secret report prepared for TDs investigating the sale of Project Eagle.
Nama’s controversial €1.6 billion sale of its Northern Ireland loan book three years ago is the subject of a number of damaging conclusions in a draft working paper to be discussed by TDs on the Public Accounts Committee (PAC).
It ultimately concludes that Nama’s sales strategy could be described as “flawed” and it has been “unable to demonstrate” that it got value for the Irish state.
…The paper said it was “not appropriate” for the Department of Finance to meet with the ultimately successful bidder, Cerberus, in the days before the closing date for Project Eagle bids. It similarly states that it was “not appropriate” for Noonan or Nama to meet with Cerberus the day before the Project Eagle bid closing date – and that this could be perceived as “special treatment”.
The Public Accounts Committee will meet in private at 5pm tomorrow and then in public at 10am on Thursday.
Previously: Spotlight Falls On Noonan