Belfast Telegraph

Nama silent after Rowntree quits Housing Executive ahead of report

By Mark Keenan

Nama has declined to comment on the future of Brian Rowntree's position on its Northern Ireland Advisory Committee after he resigned as chairman of the NI Housing Executive before public disclosure of the results of an investigation into "irregularities" in maintenance contracts.

Mr Rowntree's resignation came ahead of a promise by Social Development Minister Nelson McCausland to relate the details of an independent investigation which his department commissioned into "irregularities" in financial maintenance contracts.

These involve the maintenance company Red Sky, which has benefited from contacts worth £7m. Mr McCausland has described the findings as "alarming".

Two weeks ago, Mr Rowntree was re-appointed to Nama's NIAC following consultation with the Republic's Finance Minister Michael Noonan and Finance Minister Sammy Wilson.

Mr Rowntree's term is set to last until April 15, 2014.

NIAC's role is to make recommendations to the board of Nama concerning its strategy relating to its Northern Ireland-based assets and to advise it on Northern Ireland's general economy.