Nama NI loan sale: Documents reveal sell-off concerns
Nama deal: McGuinness denies claim he knew of failed Pimco bid
(1 day later)
Former Finance Minister Simon Hamilton had concerns about selling Northern Ireland property loans to bidders on the open market, documents have shown.
The deputy first minister has disputed being "briefed and engaged" with a failed bid by US investment firm Pimco to buy Northern Ireland property loans.
The documents have been released by the Republic of Ireland's National Assets Management Agency (Nama) in response to a Stormont inquiry into the loan sale.
Martin McGuinness has taken issue with former Finance Minister Simon Hamilton.
They include records of meetings and phone calls with Mr Hamilton.
According to documents, Mr Hamilton told the Republic of Ireland's National Assets Management Agency (Nama) that he was across its proposed purchase.
A Stormont committee is investigating the £1.3bn sale after allegations were made in the Irish parliament in July.
Pimco made an unsolicited offer for Nama's Northern Ireland loan portfolio in late 2013.
'Positive development'
Minutes of two telephone calls between Nama chairman Frank Daly and Mr Hamilton have been released by Nama.
In late 2013, Nama received an unsolicited offer to buy its Northern Ireland loan portfolio from US investment firm PIMCO.
In December 2013, Mr Hamilton is said to have "confirmed the deputy first minister was aware of the interest with updates provided by the first minister".
Both Nama and Stormont's then finance Mr Hamilton viewed their interest as "a positive development".
In January 2014, Mr Hamilton, according to the Nama minutes, told Mr Daly the first and deputy first ministers were "fully engaged" with the bid.
However, Nama chairman Frank Daly told Mr Hamilton that an exclusive deal with PIMCO was contrary to the agency's policy and it was exploring other sale options.
A Sinn Féin spokesperson said: "Mr McGuinness refutes any claim he was fully briefed and engaged with the proposed sale… as suggested by the former Minister Hamilton."
Mr Hamilton accepted it was a Nama matter, but minutes of a phone call in December 2013 show he voiced concern at an alternative sale on the open market.
It is not the first time Mr McGuinness has contested claims by the Democratic Unionist Party about his knowledge of events in the run-up to the Nama loan sale.
'Significant concerns'
He said he did not know of a memorandum of understanding agreement with Pimco sent by the first minister's office to Nama.
He believed "if a 'for sale' sign was put up over Northern Ireland assets in Nama panic could follow, with particular significance to the fragile recovery of the property market".
He has also said he was unaware of meetings Peter Robinson had with Pimco and Cerberus Capital Management, the eventual buyer of the £1.3bn portfolio.
He added that Northern Ireland's First Minister Peter Robinson had "updated" Deputy First Minister Martin McGuinness on PIMCO's interest.
On 7 January, 2014, Mr Hamilton said that the Northern Ireland Executive had "significant concerns as to how disposal would be undertaken", if Nama opted to reject the PIMCO approach.
He told Mr Daly that the first minister and deputy first minister were "fully engaged" with the PIMCO bid.
But the next day, Mr Daly informed Mr Hamilton that Nama decided not to grant PIMCO exclusivity and instead were appointing an investment bank to "sound out" a small number of bidders.
In April 2014, the portfolio was sold to top bidder, Cerberus Capital Management.
