Mr. Paul Maloney:

At the meeting the next morning, much of the meeting was taken up with the perceived conflict and the debate with the board, and that is something we could have done without, because I wanted that meeting to concentrate purely on the valuations. Was I comfortable that the Anglo Irish Bank members of the board did not know about it? I can only say honestly that I was comfortable with that. Do I believe that Mr. McNamara did this because he was going to all the banks - he was developing on many sites - and this was the one from which he thought he would get the best deal? That was my interpretation. I can only tell the committee my evidence.