Mr. Gary Hynds:

The Deputy asked about the level of oversight given our experience leading up to the liquidation.

The approach adopted by the Department was to ensure there was a liquidation process equivalent to that which the High Court would oversee, with the exception that the Minister is responsible for the oversight provisions rather than the High Court. The role of the special liquidator does not differ from that of a normal liquidator. His responsibility is to deliver the best value for all creditors in a liquidation. That is a tried and trusted structure that is in place. The liquidator stepped into the role of running the bank and effecting transactions from that point on with that in mind, as well as that he has responsibilities to creditors. We cannot get into the detail of the oversight or what the Department does on a day-to-day basis for the reasons set out in the statement of claim.