Cerberus critic settles out of court as “certain matters have become clearer”…

Hmmm, now just days after a progress report was delivered by the DFP committee, one of Cerberus’s sternest critics, Gareth Graham, has settled out of court and taken several adverts out to make clear his change of heart…

Cerberus gained control of Mr Graham’s loans when it bought the Northern Ireland portfolio of Nama in 2014, in a deal known as Project Eagle.

The fund’s conduct was criticised during court hearings and Mr Graham also gave evidence to a Stormont committee which was examining Project Eagle.

He told the committee that Cerberus had behaved in a way which was “ruthless, unjust and unreasonable”.

His statement said that as “certain matters have become clearer” it is now no longer possible to maintain his complaints about Cerberus in relation to Project Eagle.

It adds that he also wants to distance himself from “grave and serious allegations” made against Cerberus regarding payments to “fixers”.

Said committee’s deliberations (hemmed in by ongoing court cases and investigations) involved much politicking and stumbling around in the dark. But it looks like this chapter is closing.

Mick is founding editor of Slugger. He has written papers on the impacts of the Internet on politics and the wider media and is a regular guest and speaking events across Ireland, the UK and Europe. Twitter: @MickFealty

  • Brendan Heading

    Sounds like Cerberus have deployed their lawyers. I wouldn’t mess with the legal arm of a $30bn US corporation. We’ll just have to see what the SEC come up with.

  • the rich get richer

    Its all very Murky and with that kind of Dough its Probable that it will be kept Murky.

    Murky is good for the dodgy but not so good fro the general Public that desire Transparency

  • Neil

    My thoughts exactly. Nothing to see here may be a little bit premature. I hesitate to hypothesis which matters “have become clear”. The cynic within is making suggestions but I’ll save them for the pub.

  • mickfealty

    Good idea.

  • Cosmo

    There was an interesting article by Gillian Tett in last weekend’s FT – talking about the tactics (and protective effects) of litigiousness used by Mr Trump. As she says “First, the litigation threats may explain why there has not been a more thorough media analysis of Trump’s business past”. ( In her case, she experienced it 5 years ago, while working on TV talk show, when he/his reps rang the show while still on air, to demand an immediate apology on air which they got, as regards quips on his bankruptcies and hair!).

    Does this Graham out of court deal mean that the famous phone calls he referred to, cannot be used in any further investigations?

  • Nevin

    The SEC might not have much of a head for heights, if we can rely on James Kidney’s assessment.

  • chrisjones2

    What a brilliant evisceration

    That’s why the USA needs a Bernie Saunders ….and why it will never be allowed to get one

  • Greenflag 2

    Capitalism behaved a lot better when 100 divisions of the Red Army were based 20 miles from the West German /East German border . Capitalism in the USA might just save itself with a Bernie Sanders presidency . On the other hand a Trump presidency could destroy capitalism as Americans can’t afford to pay 10 dollars for a tomato or an apple or orange or 15 dollars for a big mac 😉 which will be the outcome when all 11 million illegal Mexicans etc are repatriated . I wonder if Trump will have repatriated the 2 to 3 trillion dollars of corporate profits that are held ‘offshore ‘ so to speak while American infrastructure collapses and schools lack teachers and resources and US high school graduates achieve the same grades as the non graduates of other so called developed countries ?

  • Greenflag 2

    Given that the leaders of all our western democracies are terrified of tackling the moguls of international global finance one has to respect Mr Graham for at least opening his mouth . As for the SEC ? Half are already bought and the other half are looking for more remunerative employment by the Cerburuses of Wall St ..

  • Greenflag 2

    Kidney no pun intended could have noted the SEC’s distinct lack of organs relevant to the male reproductory system . In that world it’s not that there is nobody policing the police – it’s the financial criminals who police the SEC albeit through means of persuasion which enable -enablers- to carry on focusing on the big pay off 🙁

  • Nevin

    There have been a number of derogatory references to a debtors charter but not much attention given to a creditors charter. David is unlikely to have much success against Goliath.