Mr. Brendan McDonagh:

Others did look at the portfolio but were not interested. We still had the same issue, which was that, in buying this loan portfolio from NAMA, Clareview had the same issue as NAMA had. It had to take the view that it could manage this connection even if those involved were enforced against by third parties and made bankrupt. These specialist funds probably have more specialist expertise in managing complex infrastructures in multiple jurisdictions. We had to make an assessment. This was a business assessment based on the best information we had at the time and it suggested that this was a good offer.