Nama had "no knowledge" of any meetings between its former Northern Ireland advisory committee member Frank Cushnahan and prospective buyers of the agency's assets in the North, its chairman has told the Stormont inquiry investigating the sale of the Nama loan book.
Frank Daly has written to chairman Daithí McKay to say the agency was not aware of meetings between Mr Cushnahan and possible buyers or of his potential "representation of individuals or companies whose loans had transferred by Nama".
Mr McKay had corresponded with Mr Daly last December following an oral evidence session from Richard Bullick, a special adviser to the former first minister Peter Robinson. The inquiry is investigating the circumstances surrounding Nama's sale of the Project Eagle loans to Cerberus in 2014.
Potential conflict
The inquiry chairman stated that Mr Bullick had made references to the possibility that Mr Cushnahan had engaged in meetings with potential buyers and had also acted for clients whose loans were transferred to the agency. Mr McKay said this had given rise to queries concerning potential conflict of interests.
Details of Mr Daly’s letter were published on Wednesday after the Stormont committee, which launched its inquiry last July, reconvened.
The committee also discussed correspondence from Mr Cushnahan’s legal advisers informing them of their decision not to engage further with Mr McKay or the committee because they believe he has “pre-determined issues” against Mr Cushnahan “without having concluded your investigation”.
Seek advice
Mr McKay said it was unfortunate that Mr Cushnahan had decided not to engage further with the committee and its members agreed to seek advice as to whether Mr Cushnahan can now be compelled to give evidence to them.
Meanwhile the group of Stormont politicians haves also raised concerns that they may not be able to conclude the inquiry before the current assembly is dissolved for the Northern Ireland Assembly election on May 5th.
They will have to decide whether to hand it over to a new group of politicians after May or reach a conclusion based on the evidence gathered to date.
