Colm Burke (Cork North Central, Fine Gael)
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I thank our guests for being here. There has been a lot of focus on the drawdown of funding. I am interested in the structure to protect the organisation with regard to securities, etc. What checks and balances are in place to make sure there is adequate security? We had a problem with the banks in the past. Representatives from the National Asset Management Agency were before the committee and outlined a case where a solicitor's undertaking in relation to property to the tune of approximately €1 billion meant the banks could not do anything about it because it was totally insufficient. In terms of securities where moneys are released, what checks and balances are in place?