Kieran O'Donnell (Fine Gael) | Oireachtas source

The earliest a bondholder will be paid back is six years from now. The board of Glenbeigh might make a decision in six years' time that it wishes to sell the €800 million left on the portfolio to another investor. The money comes back into Glenbeigh and the investors in Glenbeigh are repaid. It is a conduit so that it can appear that the funds are not sold, but it ultimately has the same net impact. I want to understand whether that can happen. Could the Glenbeigh board make a decision in six years' time to sell on the remaining loans to another fund. The money would be repaid, Glenbeigh would be wound up but mortgage holders would find themselves with a fund rolling on. Can that happen?