Mr. Kieran Wallace:

There were not as many as the Deputy might think who sought to put in bids for their mortgages. We took a number of issues into account, including the cost of running a process, timing and independent advice from PwC. Nowhere else in the process had we a position where only the borrower would bid for the loans. We had to account for confidentiality of personal information and execution risk in following through the process. I do not want to harp on about it but we also had an obligation to get best price for assets from a company loan perspective.