Mr. Brendan McDonagh:

There are two issues. First, as I said earlier, we lost a number of senior staff and, given that they are difficult to replace, we have had to replace them with more junior staff. Second, we have decided to get more directly involved in case management in terms of smaller debtors, which I mentioned to Deputy Perry. For the first two years, we concentrated on the top 180 debtors. Then, we decided we also needed to deal with the 500 to 600 debtors below that level and to put more resources into it. The liquidation of IBRC meant our whole infrastructure disappeared, and we had to replace it.