counter free hit unique web Shock €14.4m bill for seven-year inquiry into Nama’s €1.6 bn Project Eagle land deal as breakdown of costs revealed – open Dazem

Shock €14.4m bill for seven-year inquiry into Nama’s €1.6 bn Project Eagle land deal as breakdown of costs revealed

THE Department of the ­Taoiseach and NAMA have spent at least €14.4m on a seven-year inquiry into a controversial land deal that was only finalised last week.

A breakdown of costs shows the chair of the commission of investigation, Susan Gilvarry, received fees of around €500,000 in the period between 2023 and January of this year.

The inquiry began in 2017 and concluded last week that NAMA had received the best price for the €1.6 billion Project Eagle lands, while being critical of a “success fee” that formed part of the deal.

The Department of the Taoiseach confirmed it has so far spent €7.7 million on the inquiry, including around €2.8 million costs over the past two years.

A detailed breakdown of the most recent expenditure showed €506,000 was paid to Susan Gilvarry in her role as sole member of the commission, which included a small amount of IT costs.

Another solicitor working on the inquiry, Susan Connolly, received fees of €443,510, while barrister Darren Lehane got payments of €454,729 over the two-year period.

Three other lawyers were paid between €100,000 and €200,000, according to data released under Freedom of Information laws by the Department of the Taoiseach.

Another six received fees of between €13,800 and €95,000.

The database covers all payments that were made by the department between January 2023 and January 2025, but may also cover some work from prior to those dates.

A bill of around €142,000 was run up on IT costs, which included software licences, infrastructure back-up, file management, and the purchase of computers.

There were far more mundane costs as well, including around €17,000 for the rental of photocopying machines and €1,000 for copying paper.

Four shredders cost €137, while €32,000 was paid to the Civil Service Credit Union for shared electricity costs for the inquiry premises.

Asked about the expenditure, the Department of the Taoiseach did not respond to a request for comment.

A separate breakdown of figures from NAMA shows expenditure of €6.78 million by them on the investigation, with fees of €6.72 million paid to McCann Fitzgerald legal firm, with five-figure sums paid to two other legal practices.

The probe examined the disposal of a portfolio of loans called Project Eagle to the US fund Cerberus in 2014 for £1.3 billion following significant political controversy about the sale.

Micheal Martin, Irish Minister, speaking to the media.
Micheal Martin’s department confirmed the spend
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