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| Nama deal: Peter Robinson tells inquiry personal benefit claims 'outrageous' | Nama deal: Peter Robinson tells inquiry personal benefit claims 'outrageous' |
| (35 minutes later) | |
| Northern Ireland's first minister has told a parliamentary inquiry it is "outrageous" to allege he was to benefit from a £1.24bn property deal. | Northern Ireland's first minister has told a parliamentary inquiry it is "outrageous" to allege he was to benefit from a £1.24bn property deal. |
| Peter Robinson is appearing before Stormont's finance committee. | Peter Robinson is appearing before Stormont's finance committee. |
| It had previously heard he was set to benefit from a "success fee" after Northern Ireland's biggest ever property deal. | |
| Mr Robinson said the allegation from a political blogger was "groundless" and made "without a shred of evidence". | Mr Robinson said the allegation from a political blogger was "groundless" and made "without a shred of evidence". |
| Live stream: Peter Robinson at Stormont's finance committee | Live stream: Peter Robinson at Stormont's finance committee |
| Nama deal: The key figures and background you need to know | Nama deal: The key figures and background you need to know |
| Timeline of Nama's Northern Ireland property deal | Timeline of Nama's Northern Ireland property deal |
| The deal concerned the Republic of Ireland's state-owned so-called 'bad bank', the National Asset Management Agency (Nama). | The deal concerned the Republic of Ireland's state-owned so-called 'bad bank', the National Asset Management Agency (Nama). |
| It had been set up to take control of property loans made by the country's banks before the property crash in 2008. | It had been set up to take control of property loans made by the country's banks before the property crash in 2008. |
| Last year, Nama sold its entire portfolio of Northern Ireland loans to US investment firm Cerberus. | Last year, Nama sold its entire portfolio of Northern Ireland loans to US investment firm Cerberus. |
| Motivated | Motivated |
| Mr Robinson outlined to the committee on Wednesday his contacts with Cerberus and another investment fund, Pimco, that was interested in buying the portfolio. | Mr Robinson outlined to the committee on Wednesday his contacts with Cerberus and another investment fund, Pimco, that was interested in buying the portfolio. |
| He said the deal to sell the portfolio was necessary to help stimulate the Northern Ireland economy as it would allow fresh investment in properties. | He said the deal to sell the portfolio was necessary to help stimulate the Northern Ireland economy as it would allow fresh investment in properties. |
| Mr Robinson, the leader of the Democratic Unionist Party (DUP), said he "neither received, expected to receive, sought, nor was I offered a single penny" as a result of the sale. | Mr Robinson, the leader of the Democratic Unionist Party (DUP), said he "neither received, expected to receive, sought, nor was I offered a single penny" as a result of the sale. |
| "Any and all efforts that I made were motivated by what was in the best interests of our economy," he added. | "Any and all efforts that I made were motivated by what was in the best interests of our economy," he added. |
| "It would have been a dereliction of my duty not to seek to protect the position of Northern Ireland." | "It would have been a dereliction of my duty not to seek to protect the position of Northern Ireland." |
| He also said that Deputy First Minister Martin McGuinness was "kept informed throughout the process". | He also said that Deputy First Minister Martin McGuinness was "kept informed throughout the process". |
| Mr McGuinness had told the committee he was not informed about meetings and contacts between Nama, bidders for the portfolio and DUP ministers. | Mr McGuinness had told the committee he was not informed about meetings and contacts between Nama, bidders for the portfolio and DUP ministers. |
| In his evidence last month, he said it was "totally, absolutely misleading" for the DUP to say he was being kept informed about the Pimco bid. | In his evidence last month, he said it was "totally, absolutely misleading" for the DUP to say he was being kept informed about the Pimco bid. |
| Partner | |
| Mr Robinson said his first meeting with a potential buyer of the portfolio in May 2013 may have been set up by Frank Cushnahan and Ian Coulter. | |
| Mr Cushnahan was at the time an advisor to Nama, sitting on its Northern Ireland committee. | |
| Ian Coulter was managing partner of the Belfast law firm Tughans. | |
| Mr Robinson said he knew both men and described them as "motivated by the interests of Northern Ireland". | |
| He added that he saw no evidence of a conflict of interest in Mr Cushnahan's role. | |
| The National Crime Agency (NCA) is conducting a criminal investigation into the sale of the Nama's Northern Ireland loans. | The National Crime Agency (NCA) is conducting a criminal investigation into the sale of the Nama's Northern Ireland loans. |
| Mr Robinson told the committee that he is happy to co-operate with the NCA probe and welcomed the police investigation. | Mr Robinson told the committee that he is happy to co-operate with the NCA probe and welcomed the police investigation. |
| Blogger | |
| In July, Irish politician Mick Wallace alleged that in the wake of the Nama deal £7m was moved through a Belfast solicitors firm to an Isle of Man bank account for the benefit of a politician or political party. | In July, Irish politician Mick Wallace alleged that in the wake of the Nama deal £7m was moved through a Belfast solicitors firm to an Isle of Man bank account for the benefit of a politician or political party. |
| Last month, blogger Jamie Bryson alleged that Mr Robinson was one of five men who was to share the £7m. | Last month, blogger Jamie Bryson alleged that Mr Robinson was one of five men who was to share the £7m. |
| But neither Mr Bryson or Mr Wallace has produced any evidence to show that any politician was to receive money. | But neither Mr Bryson or Mr Wallace has produced any evidence to show that any politician was to receive money. |
| It has been established that Cerberus indirectly paid a success fee of £7.5m to Tughans. | |
| The bulk of that money was then moved to an Isle of Man account under the control Mr Coulter. | |
| That caused a major dispute between Mr Coulter and the other Tughans partners. | That caused a major dispute between Mr Coulter and the other Tughans partners. |
| The money was moved back from the Isle of Man, Mr Coulter left the firm and the Law Society of Northern Ireland launched an investigation. | The money was moved back from the Isle of Man, Mr Coulter left the firm and the Law Society of Northern Ireland launched an investigation. |