Mr. Lorcan O'Connor:

I would find it difficult to see how one would get to that figure based on the numbers in recent years and there having been a 50% drop in repossessions in the last couple of years. If one looks at the cases involving personal insolvency arrangements to which the banks are voting "No", they still have a problem loan that they must deal with. It may be that in some of those cases the ultimate solution that the bank is pressing for is repossession. We are saying that is unfortunate because it could have been solved short of that.