Mr. Brendan McDonagh:

I said that our debtors and receivers have the same legal obligations as non-NAMA debtors and they would say to us that they are not going to be disadvantaged vis-à-visthe non-NAMA debtors; that they would have to provide more than 10% because it would affect the profitability of their schemes and therefore in trying to maximise the repayments of their debt. I believe the issue here, again, is a policy decision. People can say it should not be 10% and that it should be 15%, but whatever law applies it will be complied with by our debtors. However, it would be very hard to single them out as different to other people who are operating in the market and put them at a disadvantage. The committee might have different views.