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Stormont Finance Committee considers next Nama steps Nama deal: Stormont committee inquiry to seek legal advice over top civil servant
(about 7 hours later)
The Stormont committee investigating the £1bn sale of Nama's Northern Ireland loan book is to meet on Wednesday to consider its next steps. The Stormont committee investigating the £1bn sale of National Asset Management Agency's (Nama) Northern Ireland loan book is to take legal advice on whether it can compel a top civil servant to appear before it.
On Monday, Finance Minister Arlene Foster said her department would have to consult with police before sharing any information with the committee. The Department of Finance's permanent secretary was to appear on Wednesday.
She said it was "a key consideration" for her department that it does not compromise the police investigation. But he was prevented from doing so by Finance Minister Arlene Foster.
Her department's top civil servant will not appear at the committee as planned. She said her department would have to consult with police before sharing any information with the committee.
It was "a key consideration" for her department that it does not compromise the police investigation, she added.
Prejudice
But the move to stop David Sterling's giving evidence to committee members was criticised by Sinn Féin's Máirtín Ó Muilleor.
He said the department's position was "stinking."
"To come in here two weeks ago and say: 'We're going to co-operate,' and then to try and then try and close the investigation down with this type of 'dear John' letter, 'please go away,' is stinking," he added.
But Jim Wells of the DUP said if the department challenged in court any move by the committee to compel witnesses, the department would be able to claim that the inquiry could prejudice a future court case.
He said that argument would be "a strong defence" for the department.
Mr Sterling appeared before the committee two weeks ago.
Unprecedented
But after he said he was unable to answer many of the questions put to him, the committee chairman Daithi McKay called it "one of the worst performances" he had seen from a permanent secretary.
Mr Wells said compelling a department to co-operate with a committee inquiry would be "unusual".
But Mr Ó Muilleor said it was an "unprecedented case".
The Nama loan book was sold to the US investment fund Cerberus for more than £1bn last year.The Nama 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. Mick Wallace, a member of parliament in the Republic of Ireland, has alleged that a payment of £7m was due to be made to a Northern Ireland politician in the wake of the deal.
The Stormont Finance Committee is attempting to find out what the Department of Finance knew about the sales process. Stormont's finance committee is attempting to find out what the Department of Finance knew about the sales process.
The committee chairman, Sinn Féin's Daithi McKay, said it was "disappointing" that the civil servant will not be appearing, but the inquiry will continue its work.
He said: "We are firmly focused on areas that are clearly not affected by the police investigation as reflected in our terms of reference.
"No stone will be left unturned in our determination to establish the full facts of what happened."
Meanwhile Sinn Féin has accused the buyers of the loan book, Cerberus, of "threatening jobs and businesses".
The comments are contained in the party's discussion paper on the future of Nama.
Cerberus has previously said: "We have a long and demonstrated history of treating our borrowers consistently and fairly."