16 Sep - NAMA publishes evidence to disprove false claim made by Mick Wallace TD
NAMA publishes evidence to disprove false claim made by Mick Wallace TD
NAMA has published correspondence that disproves a false claim made by Mick Wallace TD on Newstalk's Pat Kenny Show yesterday.
Deputy Wallace claimed he was informed by a managing director of Fortress that NAMA did not permit Fortress to increase its bid for the Project Eagle portfolio and that “when he wanted to bid more, he wasn’t allowed”.
This is untrue.
Correspondence received by NAMA from Fortress’s managing director on 2 April 2014 makes clear that:
- Fortress was unwilling to pay NAMA's minimum price, which was exceeded by another bidder, Cerberus.
- Fortress was only willing to buy the Eagle portfolio if NAMA failed to get its minimum price from another bidder.
There is no indication in the correspondence that Fortress was likely to be in a position to improve on the offer of £1.075 billion which it had submitted.
Deputy’s Wallace’s contention regarding the Fortress bid is untrue.
NAMA has sent Deputy Wallace a copy of this correspondence.