THE Law Society is continuing to face criticism over its handling of allegations against a Belfast law firm at the centre of the Nama financial scandal.
For days it repeatedly refused to confirm an investigation was ongoing at Tughans despite the solicitors' firm itself confirming the probe.
The Law Society would only say that it "does not comment on whether or not there is any investigation ongoing in relation to any particular matter or firm".
However, it performed a U-turn on Tuesday evening when it confirmed it was investigating the circumstances that led to the resignation of managing partner Ian Coulter.
There was further embarrassment after it was forced to clarify that Mr Coulter is still subject to Law Society regulations despite in January not renewing his solicitor practising certificate.
Tughans said it contacted the Law Society after professional fees due to the firm were diverted to an account controlled by Mr Coulter without its knowledge.
It followed sensational claims by independent TD Mick Wallace in the Dáil last week that £7m in an Isle of Man bank account had been earmarked for a Northern Ireland politician.
The Law Society has given no explanation for the shift in its position or why it did not inform the PSNI of their probe, which began in January.
SDLP justice spokesman Alban Maginness said it was "extraordinary the silliness" in which the matter has been handled by the Law Society.
He said the public would be concerned that it has been "far from open in its investigations".
"It's puzzling that the Law Society have delayed confirming the investigation," the North Belfast MLA said.
"It's remarkable that it has taken the Law Society so long to acknowledge a well-known fact that there is an ongoing investigation that was confirmed by Tughans themselves.
"In a matter so sensitive as this the Law Society needs to be up-front and open and reassure the public that all is being done to resolve the public's concerns."
Tughans carried out work that saw US firm Cerberus Capital Management buy the Nama (National Asset Management Agency) property loan portfolio for £1.3bn.
The Law Society is the professional body that represents and regulates solicitors practising in Northern Ireland.
In its statement it called for any evidence about the sale of Nama's Northern Ireland loan portfolio to be given to police.
It also said it would co-operate with any police inquiry.
Mr Maginness added: "It hasn't helped to reassure the public that the registered body for solicitors is dealing with this matter expeditiously.
"The public I think will be concerned that the Law Society has been far from open in its investigations."
The Law Society last night declined to make any further comment.
