Marc MacSharry (Sligo-Leitrim, Fianna Fail) | Oireachtas source

I understand that. In that example there were ten houses in Westmeath. I imagine there are umpteen examples of this in the NAMA portfolio. Why would that demand such a thorough bespoke process? Let us suppose the average price of a house was €150,000 and, therefore, for ten, the price would be €1.5 million. Why would that demand such a level of scrutiny and due diligence in which three proposals were acquired and assessed? NAMA would do all of this for that process but then - when talking about assets that were originally supposed to be worth £6 billion, were bought in at £2.5 billion odd and which NAMA was going to sell for £1.3 billion - the agency internally designed a sales process it very much prescribed for Lazard, rather than seeking the advice of that company on how best to achieve that. Why, for relatively low prices would NAMA have a very detailed process but for something so big - the biggest transaction in the history of the State from a property point of view - NAMA appeared to flaunt, at least in the context of Project Arrow and Project Tower, its own best practice?