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Nama deal: Stormont's finance committee to delay hearing evidence Nama deal: Stormont's finance committee postpones first hearing
(about 1 hour later)
Stormont's finance committee that is intending to investigate the sale of Nama's Northern Ireland loan book will not hear evidence until it draws up terms of reference. The Stormont committee that is intending to investigate the £1bn sale of Nama's Northern Ireland loan book has postponed its first hearing.
The committee was due to hear evidence from the Law Society on Thursday but that has now been postponed. Finance committee chairman Daithí McKay said they had to ensure they did not prejudice a police investigation or any potential criminal trial.
On Wednesday the committee chairman Daithí McKay met representatives of the UK National Crime Agency (NCA). The committee is to draw up a terms of reference and meet again next week.
The NCA is leading the criminal inquiry into the loan sale controversy. On Wednesday, Mr McKay met representatives of the UK National Crime Agency (NCA).
The agency is concerned its investigation could be undermined. The NCA is leading the criminal inquiry into the loan sale controversy and is concerned its investigation could be undermined.
Mr McKay told the committee: "We are not being shut down, we just need to reframe how we approach this."Mr McKay told the committee: "We are not being shut down, we just need to reframe how we approach this."
He said there was a need to ensure the committee's scrutiny role does not prejudice any investigation or any potential criminal trial.He said there was a need to ensure the committee's scrutiny role does not prejudice any investigation or any potential criminal trial.
The committee is expected to meet again next week.The committee is expected to meet again next week.
Nama's Northern Ireland loan book was sold to the US investment fund Cerberus for more than £1bn last year.Nama's Northern Ireland loan book was sold to the US investment fund Cerberus for more than £1bn last year.
An Irish politician, Mick Wallace, has alleged that a payment of £7m was due to be made to a Northern Ireland politician in the wake of the deal.An Irish politician, Mick Wallace, has alleged that a payment of £7m was due to be made to a Northern Ireland politician in the wake of the deal.
Mr Wallace said money had been moved for that purpose to an Isle of Man bank account controlled by the Belfast solicitor Ian Coulter.Mr Wallace said money had been moved for that purpose to an Isle of Man bank account controlled by the Belfast solicitor Ian Coulter.
Mr Coulter is the former managing partner of Tughans solicitors in Belfast and worked on behalf of the buyers in the Nama deal.Mr Coulter is the former managing partner of Tughans solicitors in Belfast and worked on behalf of the buyers in the Nama deal.
He said he had directed that money be transferred to the Isle of Man account for "a complex, commercially and legally-sensitive" reason.He said he had directed that money be transferred to the Isle of Man account for "a complex, commercially and legally-sensitive" reason.
He said that no politician, nor any relative of any politician, was ever to receive any money.He said that no politician, nor any relative of any politician, was ever to receive any money.
The money moved to the Isle of Man was later retrieved, though Mr Coulter and and his former partners at Tughans remain at odds on the circumstances of that transaction.The money moved to the Isle of Man was later retrieved, though Mr Coulter and and his former partners at Tughans remain at odds on the circumstances of that transaction.
The BBC's Spotlight programme has established the Isle of Man account was intended to facilitate payments to non-lawyers or deal fixers.The BBC's Spotlight programme has established the Isle of Man account was intended to facilitate payments to non-lawyers or deal fixers.
All those involved in the deal deny any wrongdoing.All those involved in the deal deny any wrongdoing.