Friday February 28, 2020

Nama failed in corporate governance of Project Eagle, says draft PAC paper

Conflicts of interest concerning Frank Cushahan not managed, says draft

12th February, 2017
Finance minister Michael Noonan PIc: Rollingnews.ie

Nama’s failure to manage conflicts of interest relating to Frank Cushnahan, the man at the centre of the €1.6 billion Project Eagle scandal, was “a failing of corporate governance” which “potentially compromise(d) the sales process”.

The finding is among several in a scathing draft working paper produced for the Public Accounts Committee (PAC) on the agency’s controversial sale of its Northern Irish loan book.

The paper...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Large public capital projects could be run through an “independent panel of international experts” as part of public spending reforms, according to the Department of Public Expenditure

Daniel Murray | 3 months ago

The contract covers the supply of office stationery to a range of government bodies and agencies, including the HSE, universities, hospitals, councils and schools

Michael Brennan | 3 months ago

Party would launch the ‘largest public house building programme that Ireland has ever seen’ and a national health service

Aiden Corkery | 3 months ago