Mr. Brian Rowntree:

It was intense, as the Deputy will appreciate. It is quite confusing because we were being informed of an approach to the main board but there was no real substance as to why the approach was being made. If the Deputy looks at the bullet points to which she referred, the assets are not mentioned in any of them. It is the value of the loans, not the value of the assets that is referred to. We were in a situation where in all of our previous discussions we had looked at where we would take Northern Ireland and where we would work for its betterment and go against the fire sale provision. One could argue that we had a fire sale of the loans here as opposed to a fire sale of the assets.