Ms Ann Nolan:

In the meantime, we had to ready to do the recapitalisation if the due diligence came back and said, "Everything's wonderful, you can go ahead." So it was like we had two work streams, one looking at nationalisation, one looking at recapitalising. The recapitalising notion ... this paper that you ... on page 37 was on the work stream that was looking at the recapitalisation because we had to have that ready. Otherwise, you would be presenting the Government, when the due diligence came back, with a false choice.