Stephen Donnelly (Wicklow, Independent) | Oireachtas source

That may be the case for the liquidators. However, from our perspective, as legislators, it is a completely different issue. Let us consider the example provided by Mr. Wallace in which the difference was €1 million. I realise that is not the case. Let us suppose PwC did the analysis - I do not believe the firm has done it - and it came out that the difference was €1 million. Let us suppose PwC made a stab at total sales value under the recommended process and the firm also did an estimate of the sales value under alternative scenarios, particularly one in which the mortgage holders are allowed to bid. I hope the firm did this. Anyway, let us suppose that total difference was €10 million. We, as legislators, and the Minister for Finance, Deputy Noonan, as the guardian of the public purse, could then decide to let the bidders do what they are going to do while we, the State, would make up the difference, therefore protecting any question of a challenge from the creditors because the total amount of money available to the creditors does not go down. Under that scenario we could potentially avoid thousands of families being unnecessarily evicted.