Mr. David Duffy:

It is a bit difficult for us to judge for two reasons. The first is that it takes approximately two years for the court proceedings to happen and three years to get through the process, so there is still a big issue in that regard. We are not sure where it will end up, and changes happen along the way. As Mr. O'Connor has said, we are happy to re-engage with anybody halfway through that process and come to a solution. In respect of the Irish Mortgage Holders' Organisation, 70 cases that were at full court proceedings level have been recovered and resolved. A total of 10% of the people who received legal letters have come back and paid full capital and interest, so there are many different behaviours in that mix. If somebody has not paid the bank for two years plus and is now paying full capital and interest because he or she got a legal letter, that is a different issue. What we are saying is that we do not know the answer to that, but our mission is to take all those legal letters, which we see as a process drive, and engage through any means possible to try and prevent these cases from having real legal output, which would be a repossession.