Mr. Brendan McDonagh:

We are obliged because we are subject to international financial reporting standards, IFRS, to do what we call a day one fair valuation assessment to ascertain whether the valuations put on by the liquidator are reasonable for the board to take them on to its balance sheet at that value. That is a very detailed exercise that must be undertaken all the way through 2014 as, when we come to produce our accounts for auditing at the end of the year, the Comptroller and Auditor General will look closely to see if we took them on at fair value of if we had to take an adjustment to the valuation for which we were obliged to buy them from the liquidator.