Skip to main content

Written question asked by Richard Burgon (Labour) on Thursday, 3 December 2015, in the House of Commons. It was due for an answer on Tuesday, 8 December 2015 (named day). It was answered by Harriett Baldwin (Conservative) on Tuesday, 8 December 2015 on behalf of the Treasury.


Granite

Question

To ask Mr Chancellor of the Exchequer, whether he took the National Crime Agency investigation into the Project Eagle loan sale by Ireland's National Asset Management Agency to Cerberus into account in decisions on the sale of UK Asset Resolutions' Granite Portfolio to Cerberus.

Answer

Cerberus was selected as the successful bidder for UK Asset Resolution (UKAR)’s Granite portfolio following a thorough due diligence process. Cerberus have confirmed to UKAR that their involvement in the Project Eagle loan sale was conducted with the utmost integrity; and have separately provided a detailed submission to the Northern Ireland Committee on Finance and Personnel, which conducted a full enquiry into the sale.


Secondary information

Type
Written question
Reference
18744
Session
2015-16
Subjects
Mortgages Sales Granite UK Asset Resolution Cerberus Capital Management
Link
View this Written question on www.parliament.uk