According to the British Times Brian Cowen is embroiled in a legal action in the UK over a Students Hall of Residence he has an interest in Leeds. From what I gather his interest amounts to 1/14th of the £12.5million purchase which is reckoned to have lost half of its value. It is mortgaged to AIB. So we have the Taoiseach who is in the hole to AIB for maybe £400k at a time he extended a guarantee to the banks and is proposing to buy up their bad debts. Would this not be exactly type of loan NAMA would be buying?
Can anyone define ‘conflict of interest’?
timesonline.co.uk/tol/news/w … t=0&page=1