Mr. Brendan O'Connor:

We have had 57 personal insolvency arrangements put to us, where we are the controlling voter. In 50 of those cases, we voted for the proposal and in seven we voted against the proposal. In all but two of those we voted against, we had already offered the customer a modification - a substantial fundamental restructure on the primary mortgage. Principally, this was because we did not believe the structure made sense either for the borrower or ourselves. In 50 out of 57 cases, we voted "Yes". We only exercise our veto if we believe the deal is wrong. Typically, that is because there is too much of a dividend going out to unsecured debt. Where we do not control a vote, we voted "Yes" in 34 out of 45 cases.