Mr. Shane O'Sullivan:

At its simplest, one has to look at the contract in the round. In the round it is a contract for a split mortgage and any new owner of that loan needs to honour that very simple fact. Second, any new owner needs to adhere to the code of conduct on mortgage arrears, CCMA, and the CCMA is also very clear about the need for recurring reviews. There are rules and there is also a spirit of the CCMA. Third, I refer to the recent letter from the Governor of the Central Bank where the Governor has evidence that none of these funds operate in any different way in the courts to the traditional lenders.