Mr. Brendan McDonagh:

Effectively, it meant they would not put assets on the market. We wanted them to find sales agents to put the assets on the market but they were stalling and coming up with all sorts of reasons not to do it. They were clearly trying to get themselves out of NAMA through various mechanisms and we were telling them they could not and that we wanted them to put the assets on the market. In my view, the only way we could have executed the sales of these assets in Northern Ireland was if we went in for wide enforcement against the Northern Ireland debtors.

Contrary to many reports and misinformation out there, we had already enforced against 22 of the 56 debtors in Northern Ireland.