Mr. Brendan O'Connor:

Specifically, when there is legacy debt in a voluntary or assisted sale we agree on the treatment of the residual debt before the sale to give people some certainty. Therefore, prior to selling the property, they understand exactly what is the legacy. If there is affordability, for that unsecured piece we will seek to recover that amount; if there is not, we will compromise on the debt, but we will reach an agreement before the property is sold. To the extent that there is partial affordability, we will agree deals for a lesser timeframe than the Insolvency Service of Ireland - typically five to six years - and perhaps with a nominal sum paid towards it, but we will seek it based on maximum affordability.