Mr. Brendan McDonagh:

Because some sites are being sold because we have to continue to generate cash. One gets offers on them. As I said this morning, one particular site that has planning for 200 houses had a valuation of €10 million 18 months ago yet we have just sold it for €30 million. Land prices have gone crazy and we cannot ignore that because of the section 10 obligation. Some debtors are in NAMA but because of the rise in land values are in a position to pay off their debt. These are honourable people who have said, "Actually, I can pay off my par debt now, I have gone to another bank or another funding provider and here, NAMA, I owe you €25 million, and that is all of my debt paid off, and I am taking all of my sites back and I am going somewhere else." That is reality. That is what has happened as well, Deputy.