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Cushnahan heart attack may thwart Stormont evidence bid

Former Nama northern advisory committee member Frank Cushnahan has reportedly suffered a heart attack
Former Nama northern advisory committee member Frank Cushnahan has reportedly suffered a heart attack Former Nama northern advisory committee member Frank Cushnahan has reportedly suffered a heart attack

THE businessman who Nama's chairman claimed was in line to pocket £5 million from the sale of the bad bank's northern debt portfolio has reportedly suffered a heart attack.

Frank Cushnahan, a former member of Nama's Northern Ireland advisory committee, is said to have taken ill while attending Mass recently.

His illness may thwart efforts by Stormont's Finance and Personnel Committee to take evidence from Mr Cushnahan as part of its investigation into the circumstances surrounding Cerberus's £1.3bn purchase of Nama's northern portfolio.

The forrmer chairman of Belfast Harbour Commissioners was appointed to Nama's northern advisory committee in 2010 on the recommendation of the then Stormont finance minister Sammy Wilson. He resigned for personal reasons in 2013.

In the wake of Mick Wallace's explosive claims in July about £7m being lodged in an offshore bank account, Nama chairman Frank Daly said Mr Cushnahan had been due to receive £5m had Cerberus's rival Pimco not aborted its bid to buy the bad bank's Northern Ireland debt.

The sale of the controversial Nama's so-called Project Eagle loan book is the subject of parliamentary inquiries on both sides of the border and an investigation by the National Crime Agency.

News of Mr Cushnahan's ill health emerged ahead of tomorrow's appearance before the Stormont committee by his former business associate Gareth Graham.

A solicitor representing property developer and bookmaker Mr Graham wrote to the committee last week to say his client had evidence which could assist its probe into the Nama sale.