Mr. Alan Dukes:

Well, in general terms it wasn't possible to contest the valuations put on by NAMA. NAMA decided what the valuation was and that was that, and that's the way the legislation was written. Where it was open to discussion, and I'm open to correction on this, where it was open to discussion was whether or not a given loan or relationship actually qualified under the terms of what should be transferred to NAMA and there were some discussions about that. There was a point when the chief executive of NAMA expressed the view that Anglo was not being very frank with NAMA in terms of the valuations, the presentation of the loans. That, I think, was due to a misunderstanding. What is the case is that there was still, at the time in 2010 particularly, and we saw it later, there were difficulties, which Mike Aynsley referred to in his opening remarks, with some of the documentation underlying some of these loans, I mean title and so on-----