Mr. Des Carville:

The special liquidators have been saying for the past year that their expectation is that they will pay between 75% and 100% of the figure for unsecured creditor claims, but there are a lot of assumptions behind that expectation, a very large one of which concerns the length of the liquidation process and for how much longer it will continue. The special liquidators have to assist the State in various ongoing criminal prosecutions and there are huge discovery exercises. They have to assist the commission of investigation and there is an ongoing interest remediation exercise. They also have to deal with the litigation to which I referred. They have to sell the remaining €3.5 billion worth of loans for whatever they happen to be worth. The biggest swing factor is probably the litigation to which I referred. We focus on the material bits of it because they will move the deal from the State's point of view. We cannot predict beyond the fact that the figure is expected to be between 75% and 100%, but that is subject to change.