Government loses Dáil motion on NAMA's Project Eagle sale

Its counter motion contesting the need for an inquiry has failed...

The Government has lost the Dáil vote on a motion regarding the establishment a Commission of Investigation into NAMA's sale of the Project Eagle portfolio.

Its amending motion dismissing appeals for the commission was defeated 81 votes to 58.

Mick Wallace TD of Independents4Change had called for an investigation into the controversial Project Eagle deal.

A motion from Fianna Fáil which says there should not be a Commission of Investigation until all criminal inquiries conclude passed by 105 to 38.

Wallace told the Dáil yesterday that the buyer, Cerberus Capital Management, would double its money on the €1.6bn purchase of the loan book, querying "how are we not investigating that?"

Meanwhile, Fianna Fáil TD Marc MacSharry said:

"There are allegations flying around about political interference at the highest level in favour of borrowers with connections in Nama...

"Perhaps to the detriment of others, perhaps none of this is true but the fact that allegations have been made is a concern."