Tughans declines to say if equity partners got NAMA deal money

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The firm of solicitors which alleges that its former managing partner “diverted” a huge sum to an offshore account without its knowledge has declined to say whether the firms equity partners benefited from the deal.

Tughans has alleged that Ian Coulter “diverted to an account of which he was the sole beneficiary professional fees due to the firm without the knowledge of the partners” and confirmed that the entire sum “diverted” to the account had been recovered.

On Wednesday, the News Letter asked Tughans whether any of the money received by Tughans and diverted to the Isle of Man account as part of the Cerberus deal was divided up between Tughans’ equity partners.

The leading Belfast law firm’s spokesman did not respond until yesterday, when he said: “All I can say is that Ian Coulter worked on the transaction, not the Tughans partners.”