Mr. Brian McEnery:

What we are saying is that this was not acceptable to NAMA when it found out a success fee would be payable to Frank Cushnahan who was a former member of the Northern Ireland Advisory Committee. We are not saying it was fatally flawed because of the success payment to Tughans or Brown Rudnick because success payments are very often part of that sector. What was unacceptable to us was that Frank Cushnahan - we did not know this prior to that disclosure - potentially was to be in receipt of a success fee. That was unacceptable. That is what made it fatally flawed and what NAMA would not accede to.