Mr. Brendan McDonagh:

We put the tenancy schedules and the details of the assets into the data room in November 2009. If people knew the yield and income, they could have reversed it out. They just had to employ a chartered surveyor. They could have worked it out. Chartered surveyors who work for Sherry FitzGerald, Cushman & Wakefield, the bidders in-house, JLL or anyone else could have done that. I do not accept that there was anything unusual in people being able to work out a close valuation. When Mr. Mulcahy appeared before the committee as a former board member of NAMA with 40 years of experience in this business, he said that this could be done if someone wanted to.