Cerberus’s say they agreed to pay Brown Rudnick 1.1% of the value of the Project Eagle deal…

Just putting this here… This is how Cerberus describe the nature of their arrangement with Brown Rudnick pic.twitter.com/32ODnntCzy — JPCampbellBiz – Wash your hands keep your distance (@JP_Biz) November 17, 2016 Mick FealtyMick 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

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 …

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Spotlight NAMA investigation finds Cushnahan playing both ends off the middle…

Mandy McAuley’s Spotlight documentary on Monday is well worth watching in full. It does an excellent job of decyphering some of the Chinese whispers that have been running since independent TD Mick Wallace set a number of hares running last July. But for me this is the absolutely critical passage in the documentary… Most of the critical evidence appears to relate to the failed sale of the portfolio to PIMCO. The sale failed when NAMA learned that its advisor Frank …

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What exactly is going on with this ‘draft’ letter to Tughans?

In Dublin Frank Daly of Nama told his critics to put up or shut up after the PAC in Dublin failed to land a single blow on him over Project Eagle. Meanwhile away from the northern antics of the Finance and Personnel Committee, Julian O’Neill unearths something very odd… The sale of the Northern Ireland Nama loan book was claimed to be the idea of a Belfast accountant who has said he was due the £7.5m success fee. The BBC …

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“No politician, nor any relative of any politician in Northern Ireland, was ever to receive any monies in any way”

So after the utter feverishness of last week, which finished with a flat denial by the First Minister, Ian Coulter speaks pretty plainly about the Project Eagle deal… The concept of a Northern Ireland NAMA deal was developed and significant work leading up to this deal was done by other business people in Northern Ireland, before any involvement of Cerberus (or any bidder).  None of these other parties were from Tughans and none were politicians or relatives of politicians. Through …

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“…no evidence that any other person was involved, so I am sceptical of this political allegation”

Jamie Delargy on UTV last night gave as sharp and precise a precis of where we are with the Nama story thus far. Two points worth highlighting: There is no evidence that that money was then destined for any other person. It was under the control of Ian Coulter, it may have been the case that Mr Coulter intended keeping that money, it may have been the case that he was going to pay other people, but we have no …

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“Mr Cushnahan was to share in a three-way split of £15m with US law firm and Ian Coulter…”

Here we go, the little matter of the Tughan’s money just took the Dail committee to ask a few pertinent questions this morning to throw some light on previous the Pimco deal… A former Nama adviser was in line for a £5m payment after the sale of Nama’s property loan portfolio in Northern Ireland, an Irish parliament (Dáil) committee has been told. A US investment firm, PIMCO, pulled out of the tender bidding process after discovering the fee arrangement to …

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NAMA claims media coverage of Project Eagle is seriously in error…

Here’s a statement from them this morning…   Now that does not mean there is not a problem with the purchase arrangements. But this account tallies with several audit office reports done on these transactions on both sides of the border which passed Project Eagle with a clean bill of health. The PSNI are investing the purchasers, not the sellers (which may be a further reason why Deputy Wallace is unwilling to justify his original privileged remarks in front of any Oireachtas …

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The Key Players in Nama/Tughans Deal – who the DFP Committee want to hear from

The Department of Finance and Personnel Committee met today to schedule hearings to investigate the Project Eagle sale of Nama’s Loan Book in the north. The first of the hearings have been provisionally scheduled for Wednesday and Thursday the 15th and 16th of July The Assembly Research Team have been tasked with providing a draft of questions and timeline of events to the Committee. There was widespread support for early hearings across all the parties attending, given the level of …

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