Mr. Richie Boucher:

We get criticised for our policy but it is consistent. We seek to maximise recoveries. There are certain situations where there is limited liability. In a personal situation if someone goes bankrupt, whether court-enforced or through a liquidation process, there is no money and nothing to collect, so the entity itself is gone. In other instances, we will convert a portion of our debt to equity. Indeed, when we were recapitalising the bank, some of the bondholders converted some of their bonds to equity in the bank.