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...

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