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:

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...

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