Seán Fleming (Laois, Fianna Fail) | Oireachtas source

The reason I say that is as follows. The letter KPMG supplied to NAMA on 11 May 2016 is referred to on page 16 of the report. KPMG was asked to comment on market value - item No. 2 in the letter. I will not read it all, but KPMG refers to the Royal Institute of Chartered Surveyors, the International Valuation Standards Council and the International Accounting Standards Board in considering how to define market value. It states they all share a common theme on market value, that, ultimately, it requires willing participants and a well designed sales process. Mr. McCarthy has stated his opinion that we did not have a well designed sales process. As such, the reference on which NAMA is relying in the letter from KPMG does not apply if we accept that there was no well designed sales process. Does Mr. McCarthy follow my logic?