Mr. Paul Maloney:

First of all, it was clear to me, because Mr. Bradshaw was with me, that he was as taken aback as I was. We had operated from the 3rd to the 24th, almost, under the assumption that the bank was RBS. I was satisfied that when Mr. Bradshaw reported this immediately at the meeting the next morning at 8, he was as surprised as I was. I am certain he had no knowledge of it and that Mr. McNamara did so for the reasons he enunciated to me, which were that he was getting a more streamlined service from Anglo Irish Bank. It would have been very common, in my knowledge of the time, for developers to approach three or four banks when seeking funding, because it is not just a question of funding, but the fee that banks charge. Therefore, I was not surprised about his switching bank, but was surprised by the lateness of the hour in telling me.