Adams claims Arnotts’ department store could be sold in the same way as Clery’s

Concerns have been raised in the Dáil that department store Arnotts could be sold in the same way as Clerys.

Sinn Féin leader Gerry Adams made the claim as he called on the Government to suspend the sale of National Asset Management Agency (Nama) properties not already under contract, for a "time-limited examination of the books with a view to ensuring the best interests of citizens are being served".

But Taoiseach Enda Kenny said there was a permanent team from the Comptroller and Auditor General’s office based in Nama that had unrestricted access to all its records and files. Mr Kenny said the comptroller had power to scrutinise and investigate any area of concern and he stressed the comptroller’s office was “entirely independent and objective”.

The comptroller’s office had produced three reports on Nama which were “generally positive about the management of its business and its conduct”, Mr Kenny said.

Mr Adams called for the sale suspension as he raised the case of the Spawell centre which he said the Dublin county board of the GAA attempted to purchase, offering more than the €6.5 million asking price.

But instead of facilitating the GAA, Nama "facilitated Noel Smyth of Fitzwilliam Finance Partners".

When the Louth TD said Mr Smyth was in Nama’s top 20 developers list, Ceann Comhairle Seán Barrett intervened and said the Dáil was “not a place to be making charges we cannot stand over”.

Mr Adams said Fitzwilliam Finance Partners paid €230 million for loans owed by Arnotts and secured 50 per cent of the company. Last week Mr Smyth bought the other 50 per cent of Arnotts.

“He controls Arnotts. What’s to stop him from doing at Arnotts what was done at Clerys?” He added that it was “perfectly legal under the Government’s flawed legislation” and the store’s workers were understandably concerned.

When the Ceann Comhairle intervened again about naming people in the chamber, Mr Adams said: “I made no charge.”

Mr Barrett asked: “Then why are you naming the person?”

The Sinn Féin leader said: “Because it is in the public interest to do so.”

Mr Adams also called for an independent audit of remaining Nama properties to determine which of them could be made available for social and economic development.

But the Taoiseach said he was not going to interfere in any way with the commission of investigation on matters relating to IBRC.