Alan Kelly (Tipperary, Labour) | Oireachtas source

I have just outlined four factors and I have also outlined the letter of intent, the meetings that were taking place and the role of Mr. Cushnahan. Did the board not consider all of these activities, the change of thinking as regards a fire sale and the four pressures that NAMA was under? Mr. McEnery has said that section 10 was paramount but not exclusive, which is a very important and interesting statement and one to which we will have to return. Did it not concern the board that there was a possibility - I refer to Mr. McEnery's use of a particular word in a different context - that something amounting almost to a "proxy" sale was going on here? Was there a sense that it was set up to address the four factors I keep referencing; business risk, lack of debtor engagement, diplomacy and political pressure, in particular the last?