Whilst NAMA will wish to downplay the significance of the alleged unauthorised removal of information by ex-employee Enda Farrell, the ever-widening web of people and companies affected by the affair is likely to keep what might now be properly called a full-blown scandal in the spotlight for some time to come.
Today we learn that one of the alleged recipients of Enda Farrell’s emails, the Partner Group, recently joined up with another company to buy loans under management by AIB in Poland. The transaction was reported in April 2012 and concluded in August 2012 and saw the Partner Group take over the management of €600m of loans. It is alleged that Enda Farrell sent an email to an employee of the Partners Group, an employee named as Fabian Neuenschwander, apparently based in Switzerland, in October 2011.
Of course 99.8% state-owned AIB is different to NAMA, but it would certainly have been useful to the Partner Group to know how NAMA had valued Polish loans in its portfolio, or to have known the status of certain loans to certain developers.