Mr. Des McCabe:

By their nature, the only assets that OMCs have are cash in the bank, future management fee income, debtors, which includes outstanding management fees owed, and the common areas. The common areas in most developments do not have any development potential of their own because they are tied into the apartments and the owners themselves. HBFI will not accept a debtor's book or the common areas without any development potential as security for a loan. The interest rates are between 6% and 8%, which is very high.