Mr. Daithí McKay:

The committee on a number of occasions has been very sceptical of a number of parties. A lot of that has been born out of frustration because from the outset in July, when we set about looking into this issue, a lot of doors were firmly shut in our faces. There was a debate at that time as to whether there was any point in us continuing with our inquiry. Personally, I am glad that we did continue with the inquiry because we are slowly but surely pushing some of those doors ajar and we are beginning to see that work bearing fruit.

In terms of NAMA and the advisory committee, obviously some of the key players in this saga, going back to the start of this year, include Tughan's solicitors and we do know that on 7 October at Tughan's offices in Belfast, the advisory committee discussed the unsolicited bid by Pimco and feedback was sought from the external members, including Mr. Frank Cushnahan and Mr. Brian Rowntree, to inform the full NAMA board's consideration on 10 October, some three days later. When we learned about that fact through our evidence gathering, it did not sit well with what Mr. Daly had said in terms of there being no risk in that regard at all. We have only some snippets of information in that regard but that in itself is something which is of major concern. It is a contradiction of what we have seen in the minutes and of what Mr. Daly has said.