Mr. Brendan Mc Donagh:

PIMCO withdrew and did not pay Brown Rudnick. We understand that the company engaged Brown Rudnick and paid a fee. I understand the company has made a statement to the effect that Brown Rudnick shared that fee with Tughans. It is speculated that the fee given to Tughans was up to £7 million and that this was the money that was diverted.