- The sale of the National Asset Management Agency's (Nama) Project Eagle loans in April 2014 probably lost the State of more than £190 million (€220 million).
- Nama lost 13 per cent on the sale of Project Eagle compared to 1 per cent on sales of other sales of Northern Ireland loans.
- Nama spent £2 billion buying the loans in the first place, but calculated that they were worth £1.49 billion at the end of 2013.
- It recommended to its board at the end of 2013 that the value should be reduced to £1.3 billion for a sale.
- Nama's board agreed with the recommended minimum price of £1.3 billion, but did not say if this represented the best value return.
- Nama cut the final price of the portfolio to £1.2 billion shortly before the sale as it had sold some of the loans separately.
- The ongoing involvement of lawyers, Tughans and Brown Rudnick, who worked with former advisor, Frank Cushnahan, should have raised concerns for Nama.
- Overall, 10 potential bidders were approached and offered the chance to take part in the auction.
- One potential bidder withdrew because it was refused a request for extra time to study the assets.
- A number of the firms which turned down invitations to bid for Project Eagle complained of a lack of relevant information and time.