Mr. David Doyle:

And in relation to the question of dealing with bondholders, the bondholder issue in terms of whether you would bail them in, it wasn't, it wasn't an issue that was on the agenda; it was deliberately put off the agenda. Dealing with bondholders, to get them to take a bath you're more or less getting into a liquidation situation. And the read at the time was that if you got into a liquidation situation, certainly an involuntary liquidation, where a deficit ... whoever was driving the liquidation saying there aren't enough assets here to discharge the liabilities, an involuntary liquidation would have been seen as a disaster for the rest of the industry. A voluntary liquidation, where the shareholders or the promoter of the liquidation was saying that all the assets will be realised and all the liabilities of that company would be discharged, that would be a totally different question of thing ... different question. But, bondholders being written off in that context couldn't arise in a voluntary liquidation.