Catherine Murphy (Kildare North, Social Democrats)
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We have a single process that was being added to. Particular groups were dropping out and others were being added. It was rushed. In its letter, Fortress, and others, told us:

Considerations taken into account by Fortress included the quality and completeness of the diligence information made available to Fortress; that the portfolio constituted a large exposure in a very small, concentrated region: and that the bid process required an unconditional bid which could not be syndicated or financed pre-bid.

Fortress was telling us there were constraints. Others complained about the fact that they were not allowed to use local information regarding valuing. Looking at it from the outside, it seems almost every possible obstacle was put in the way in order to eliminate entities from the bid. Was this dictated by NAMA? Did Mr. Long discuss it with NAMA? What approach did he take?