Gerry Horkan (Fianna Fail) | Oireachtas source

I apologise for having to go over some of this stuff but it is important we go through it. The company's overdraft was then reduced and its operational capacity was massively reduced. Ms Lavin referenced the phrase "if the company has not de-funded we can engineer one", which is quite frightening. Looking back on it - I am sure this was not Ms Lavin's perception at the time - they never wanted the business to succeed. They wanted to get in, get the assets, strip them and sell them. In terms of what Ms Lavin had to say, and the way she said it, it would suggest there were friends of friends who were lined up to strip the assets and pick off what they wanted and so on. Reference is made in the report to the property division which amassed assets worth €3.3 billion during the crisis. Is Ms Lavin saying that one part of Ulster Bank stripped its customers of their assets and another part of it absorbed them?