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TD told he was "going to get sorted" after raising Nama concerns

TD Mick Wallace speaking in the Dáil yesterday
TD Mick Wallace speaking in the Dáil yesterday TD Mick Wallace speaking in the Dáil yesterday

TD Mick Wallace claimed that a representative from the investment fund who bought Nama's northern loan book told him he was "going to get sorted" after he raised concerns about the deal.

The Wexford TD told the Dáil under parliamentary privilege yesterday that the warning was passed to him, allegedly by a "leading member of Cerberus Ireland".

Cerberus is the the US firm that purchased Nama's Project Eagle portfolio of Northern Ireland loans for £1.3 billion.

Mr Wallace claimed: "Recently I was summoned to a meeting by a public figure and a message was passed on to me from a leading member of Cerberus Ireland that I was going to get sorted".

In the latest revelations linked to the sale of Nama's northern loan book, the TD also claimed that the reserve price for the portfolio was reduced by £60m to £1.24bn in April of last year.

He said Nama explained the reduction by saying it related to "asset disposals in the intervening period between the start of the loan sale and its closing".

"Can you find out Taoiseach what are the details of these disposals?" he asked.

He also questioned if the price reduction was linked to reports that a developer complained to Nama "about being approached by fixers who were looking for a backhand in order for him to buy his loans back at 50p in the pound from Cerberus in the autumn of '13, months before Cerberus even bought it. Can you find out Taoiseach if Nama actually did a deal with this developer?"

Mr Wallace also alleged that "in a confidential letter" to then finance minister, the DUP's Sammy Wilson, US law firm Brown Rudnick admitted "to acting for two clients with a strong interest in Project Eagle. Brown Rudnick ended up acting for Pimco and Cerberus, which isn't legal".

"This matter is now being investigated by the Securities and Exchange (Commission) in America," he said.

Mr Wallace has been at the forefront of allegations about the controversial sale of Nama's northern loan book. Last week he claimed in the Dáil that £45 million was paid to 'fixers' as part of the controversial Nama sale.

Cerberus has said it did not make any improper payments or pay any illegal fees in relation to the deal.

During a tense exchange with Enda Kenny, the Taoiseach urged him to put his questions about the Nama deal in writing.

"You come in here week after week with very strong statements and allegations. I can't say whether what you say is true or not or whether you can back that up," he said.

Mr Wallace again demanded that the Irish government step in to halt the sale of the Euro 7.2bn Project Arrow portfolio, involving non-performing loans in the Republic and Britain.

Cerberus is widely tipped to secure the deal.

Nama representatives are due to appear before the Republic's Public Accounts Committee (PAC) on Thursday.