Seán Fleming (Laois, Fianna Fail) | Oireachtas source

Page 82 of the report states that in a letter dated 2 April Lazard noted that:

The process involved a limited number of highly qualified bidders, [that is a qualification; it was a limited process] limited due diligence information, [that is a second qualification] a single round of bidding [a further qualification] and the requirement for bidders to acquire the portfolio 'entirely in cash'.

Lazard's letter to NAMA stated that this was the best that could be done with those four restrictions as I would call them.