Mr. Brendan McDonagh:

Within NAMA there is a lead case manager and a backup case manager for every debtor, so nobody has proprietary information. As part of a debtor's business plan, and as part of our impairment process, each year we must produce projected cashflows all the way out to when the assets are all disposed of. As part of that we would know the income coming in on those assets. In the meantime we project that as part of the cashflows. It is a factual situation. If the building of 100,000 sq ft. is let for €35, the gross income is €35 multiplied by 100,000. Then one examines the costs of insurance-----