Mr. Eugene Sheehy:

Technically, it was totally beyond our experience and competence to even have an idea of what to do, to be quite honest. There was no statutory mechanism. Liquidating a bank is an entirely different process to liquidating other going concerns, because it is a public event. Quite honestly, we did not know what the best thing to do was. We just knew that if they could not fund their obligations the following morning, there was no way forward.