Papillon is trying to become the first horse since Red Rum in the 1970s to win consecutive runnings of the Aintree marathon.

Walsh declared himself happy with the weight given by handicapper Phil Smith for whom he had a degree of sympathy in allocating weights.

"The National is Papillon's main target," said Walsh, whose son Ruby rode the gelding to a one-and-a-half-length success over Mely Moss in last year's race.

"I'm happy with 10st 10lb but I would have been happier with 10st 4lb. We are very happy to have won the National once with him - a second would be a bonus.

"The handicapper will have taken the National factor into account. Commanche Court is rated 153 over here and Papillon 148 so by the sound of it he seems to have done a good job. It's not an easy task, I wouldn't have fancied doing it!"

Walsh admitted that his other entry Commanche Court is unlikely to run. "He's a super 'lepper' but he's only eight and he's more likely to go to Cheltenham."

Ladbrokes representative Mike Dillon, commenting on the odds of Papillon, said: "We've put him in short as he was such a good winner last year."

Top weight for the race is See More Business, who has been allocated 12st by Smith.

However, the weights allotted to his rivals mean that he would be set to meet most of them on terms between 6-8lb better than in an ordinary handicap.

His trainer Paul Nicholls found the handicapper's move "interesting". "The situation is that he is unlikely to run as Cheltenham is first and foremost and we haven't thought any further ahead than that," said Nicholls.

"But he has got an entry so it is a possibility and I wouldn't rule it out completely. The handicapper has been very, very fair - he is tempting us to run."

Should See More Business not take part then top-weight is likely to be carried by Alexander Banquet (11st 9lb), runner-up to stablemate Florida Pearl (11st 13lb) in Sunday's Hennessy Cognac Gold Cup at Leopardstown.