Mr. Brendan McDonagh:

Let us consider the history of the transaction. There were several shareholders in the company that owned those loans. One of the company shareholders sold his shareholding company to the Barclay brothers. That was fine. We sold a loan which had a share charge over another debtor's shareholding to a Malaysian sovereign wealth fund. Then we were approached by several parties to buy the loans associated with the debt secured on the three hotels. We sold the loans to the people who paid us the maximum amount, which was repayment of the full par debt. That was purely a business decision.