It was Northern Ireland’s largest property deal. In April 2014, Nama, the bad bank set up to deal with toxic loans, agreed to sell a property loan portfolio to Cerberus for €1.6 billion in what became known as Project Eagle. Then controversy struck over a Stg £9 million (£7.5 million plus Vat) success fee paid to Tughans, a Northern Irish law firm who had worked on the transaction, most of which was transferred to an offshore Isle of Man account, registered to a company allegedly set up by one of the firm’s partners, Ian Coulter. Coulter had allegedly only disclosed…
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