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Nama deal: Stormont Finance Committee inquiry aims to restore public confidence Nama deal: Stormont Finance Committee inquiry aims to restore public confidence
(35 minutes later)
A Stormont inquiry into the sale of Nama's Northern Ireland property loan portfolio will ask the questions the public are asking, the chair has said.A Stormont inquiry into the sale of Nama's Northern Ireland property loan portfolio will ask the questions the public are asking, the chair has said.
Daithí McKay said public confidence must be restored after claims that a politician stood to gain from the deal.Daithí McKay said public confidence must be restored after claims that a politician stood to gain from the deal.
The Sinn Féin MLA chairs the Northern Ireland Assembly's Finance Committee.The Sinn Féin MLA chairs the Northern Ireland Assembly's Finance Committee.
The committee is examining claims, made in the Dáil (Irish Parliament) that £7m had been "reportedly earmarked" for a Northern Ireland politician.The committee is examining claims, made in the Dáil (Irish Parliament) that £7m had been "reportedly earmarked" for a Northern Ireland politician.
The claims, focused on an Isle of Man bank account, were made last week by independent Dáil member Mick Wallace.The claims, focused on an Isle of Man bank account, were made last week by independent Dáil member Mick Wallace.
Firms involved in the transaction have denied any wrongdoing.Firms involved in the transaction have denied any wrongdoing.
Mr McKay said he wanted to invite government officials, lawyers and other professionals who were involved in the process to give evidence to the committee. 'Political involvement'
He listed Northern Ireland's Department of Finance and Personnel, the Belfast law firm Tughans and its former managing partner Ian Coulter, as well as former Nama Northern Ireland advisors Frank Cushnahan, and Brian Rowntree. In his opening remarks, Mr McKay warned committee members to "be responsible" during the inquiry.
Mr Coulter, who has since left Tughans, reportedly controlled the Isle of Man bank account. "I don't think members should be controversial for the sake of it," he said.
"I think the most important thing is to drill down and get to the detail of this case. There is an issue of public confidence, there is an issue that has been raised in terms of some political involvement in this, we shouldn't pre-judge that."
Mr McKay said he wanted to invite those who were involved in the sale process to give evidence, but later added if witnesses did not accept invitations, the committee would consider using its powers to compel them to attend.
The sale, completed in April 2014, was the biggest ever property deal in Northern Ireland.The sale, completed in April 2014, was the biggest ever property deal in Northern Ireland.
'Cast a shadow'
The Republic of Ireland's state-controlled National Asset Management Agency (Nama) sold its entire 850-property loan portfolio in Northern Ireland to the New York investment firm Cerberus for more than £1bn.The Republic of Ireland's state-controlled National Asset Management Agency (Nama) sold its entire 850-property loan portfolio in Northern Ireland to the New York investment firm Cerberus for more than £1bn.
Mr McKay initially listed Northern Ireland's Department of Finance and Personnel, the Belfast law firm Tughans, its former managing partner Ian Coulter, as well as former Nama Northern Ireland advisors Frank Cushnahan and Brian Rowntree among those he would like to question.
Mr Coulter, who has since left Tughans, reportedly controlled the Isle of Man bank account.
The chair also said it was "a priority that Cerberus come before us".
Ulster Unionist Party (UUP) committee member Leslie Cree said: "It is important that the matter is investigated because it does sort of cast a shadow over all of us politicians, who get enough knocks, so I think it's important that we get to the actual root cause and establish the facts."
The committee proposed to set up hearings next week.