Mr. Brendan McDonagh:

The reality is that at the start of NAMA when we got business plans from all the debtors, their view was that we should sell no assets, let the market recover and then sell all the assets in 2020. That was universally the view of all the debtors. They believed this would pass and that the market would recover. We were not in a position such that we could not sell assets because we had obligations to pay off debt.