Nama NI deal: Details emerge of meeting between Peter Robinson and PIMCO

Peter Robinson has rejected allegations that he was to receive a payment upon completion of the sale of Nama's Northern Ireland property loan portfolio

Details have emerged of a meeting between First Minister Peter Robinson and a potential buyer of Nama's Northern Ireland loan book in 2013.

They are contained in correspondence between US firm PIMCO and the finance committee at Stormont.

The committee is investigating the £1.2bn sale by the National Asset Management Agency (Nama) - the Irish bad bank - amid claims of fixer fees.

The meeting took place at Stormont on 22 May, 2013.

It was also attended by then finance minister Sammy Wilson, Frank Cushnahan - who was at the time a Nama adviser - and solicitor Ian Coulter.

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The Democratic Unionist Party (DUP) had previously stated that its leader Mr Robinson met with PIMCO, but few details were provided.

'Fire sale'

In its letter, PIMCO states an unsolicited approach was made to it by US law firm Brown Rudnick, which introduced it to "two other parties which it appeared to be working with".

It does not name the other parties.

It goes on to state it "was advised by these parties that the Northern Ireland government was concerned to ensure that there would not be a fire sale of homes and businesses".

Instead, it wanted "a longer term approach to investment and development of the assets" by a purchaser.

PIMCO states having expressed an interest, "it was explained the Northern Ireland Executive wanted to meet".

It said it attended the Stormont meeting "so that an assessment could be made as to PIMCO's suitability".

The letter adds: "It is our understanding PIMCO was not the only firm invited to meet with the representatives of the Northern Ireland Executive at that time."

'Secret meeting'

The Irish government was made aware of buyer interest in the Nama portfolio the following month.

Mr Cushnahan resigned as a Nama adviser in November 2013 and has strongly denied any wrongdoing.

The Sinn Féin chairman of the Finance Committee, Daithí McKay, described details of the meeting as "a very significant development".

He said PIMCO "mistakenly believed" the meeting was "taking place under the auspices of the executive."

Mr McKay added: "It is the first time that any of the players in the sale of Nama's northern portfolio have put anything on the record about this secret meeting.

"This letter raises further questions about the Nama sale and I will be asking why no record of this meeting has been made available to date by the Department of Finance."