Mr. Brendan McDonagh:

We had paid €4.3 million in 2010 but as the years went on, the problems became more and more in relation to these assets. They were left go to dereliction; all these types of issues arose with them. Effectively, we overpaid the bank as the Comptroller and Auditor General said before the Deputy came in. We overpaid the bank from day one. Based on advice that we took at the time, we paid the bank. For argument's sake, if we had only paid the bank the same price that we sold it for in the end, €265,000, the difference would have been made up by the Government recapitalising the bank for the difference.