Mr. Michael O'Flynn:

Well, I would be surprised with some of the prices that were paid, if they don't make a profit, but you have to understand that there was an awful lot of money spent on professional fees. It became quite a business, the professional fee, not just the NAMA professional fees, but what was added on to the borrowers as well on ... in relation to maybe NAMA's professional advisers as well as the borrower's own professional advisers. And I'm not sure a lot of value was gained from that, because, perhaps, in some cases, the security was poor, and the businesses weren't sound propositions in the first place or they lacked a professionalism. But in a lot of cases - and I can speak from my own experience - there was nothing gained from the millions that was put into professional fees.