Ms Ann Nolan:

The Minister tried to explain this last week in the Dáil. The issue from our point of view is that we have to protect the position of the taxpayer who has given a guarantee to the Central Bank for nearly €13 billion worth of NAMA bonds on the back of these assets. We cannot allow that the other creditors could sue us for a potential loss of value, even if that potential loss of value were zero. If they could make out that it existed and sue us, we could be putting ourselves in the position of having to pay out to other creditors and even the sub-debt holders.