I propose to take Questions Nos. 88 and 89 together.
I understand from NAMA that, as part of its business plan agreements with debtors, it normally looks for and obtains a reduction of 50%-75% in overhead costs and that any remuneration paid to debtors is payable from this much-reduced budget. The Chairman of NAMA has recently stated that the majority of debtor remuneration packages fall into the €75,000 to €100,000 range, including all benefits-in-kind. I understand that, in two cases, the debtor's remuneration package approved by NAMA, as part of the budget for overheads, exceeded €100,000 and that the highest is in the order of €200,000.
The Chairman also pointed out that NAMA is faced with a choice in the case of any particular debtor as to whether it uses the knowledge and experience of the debtor to optimise the realised value of property assets or whether it is more cost-effective to use the services of receivers or other insolvency professionals. Where NAMA decides that the most cost-effective approach is the former, it takes a large number of factors into account before approving a remuneration package. These include the debtor's knowledge of the assets, the overall value of the assets, his experience, NAMA's view of the extent to which he can add value and his level of cooperation with NAMA including, where applicable, voluntary reversal of asset transfers and the pledging of unencumbered assets.