Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

It seems to me that it is at a very advanced stage. It is not an alleged portfolio sale. Reputable journalists who seem very well informed have been writing about Project Redwood for months. Mr. Bourke has just characterised the sale as being those who have largely not engaged, who have consistently not engaged. I cannot probe that or question Mr. Bourke on that because he is not providing any information. I do not know what level of impairment these loans are subject to, or what level of engagement there has been with borrowers. I can read articles telling me that this portfolio sale will be closed by June. This is a €3.7 billion portfolio sale that sounds as though it is quite advanced and the bank is not prepared to answer any question about it. That is not good enough.