Mr. John Moran:

The selection of a special liquidator, as would be obvious, was not something that could be done by public tender because of the sensitivity of the situation. What we did to protect the situation as far as possible was to approach NAMA management which already had in effect panels of liquidators that had gone through a process in terms of setting rates and their suitability to act as liquidators. We then dismissed from that panel those people who were in what we considered to be inappropriate conflict situations. For example, those with significant litigation relating to auditing were dismissed and the selection was made by the Minister and ultimately the Government.