Mr. Michael O'Flynn:

There is no doubt in how NAMA operated, the extraordinary powers vested in it were used to make ... to get commercial solutions from borrowers who didn't have any access to the courts and who were not able to defend their positions. Now, it's one thing to give extraordinary powers; it's another thing for those powers to be used, not just in a legal sense, but in a commercial sense, and I think the property rights of companies and individuals was taken away by the fact that people had no choice. It was a case of if we didn't accept what was being suggested, another solution would be found for your borrowings. I think the rights of the individuals and I don't want to go into the technical side and I don't want to go into any of my own. But the rights of the individuals and companies were ignored in the application of their commercial power, not to mention their legal options.