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Nama: Ronnie Hanna met Cerberus chief before Project Eagle bid deadline

By Nevin Farrell

Published 18/04/2016

Ronnie Hanna
Ronnie Hanna

Senior staff in Nama, the Republic's so-called 'bad bank', met the chairman of Cerberus the day before the US fund was due to bid on Northern Ireland-based loans worth £4.5 billion.

The information is contained in the diary of Ronnie Hanna, Nama's then head of asset recovery.

It has been released following a Freedom of Information Act request.

The diary shows that on March 31, 2014, the day before the closing bids on the Northern Ireland loans - known as Project Eagle - were due, Hanna had a one-hour meeting with John Snow, a former US Treasury secretary and chairman of Cerberus.

The Sunday Times reported that when asked whether it was appropriate for Hanna to have met Snow so close to the deadline for the bid, Nama said it "acceded to requests from both Cerberus and Fortress for meetings during the last week of March 2014".

This was done on the basis there would be no discussion of Project Eagle, the paper said.

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