Mr. Brendan McDonagh:

The receiver has legal responsibilities to look after the assets once he is appointed. He steps into the shoes of the debtor. In our experience many of the issues around apartment blocks in Dublin, in particular those that were built during the boom, are that there was no regulation carried out, while they were being built, by the local authorities, which were responsible for ensuring that they were built properly. Where a receiver gets charge of an asset and becomes aware of a problem, the receiver works with the owners and the management company to try to find a solution. There has been ongoing engagement between Dublin City Council at executive level, the fire people in Dublin City Council, the receiver and Dublin Docklands Development Authority, which has the largest ownership within that and which has nothing to do with NAMA, about trying to resolve that issue since the problems were discovered. A lot-----