Mr. Alan Merriman:

Look, I'd been in EBS for about a year and a half at that stage. I could see many challenges. The society was always very well-intentioned, it had very good people, it was doing well in certain areas. But, big picture: it had a capital issue and it had a funding challenge. They weren't day-to-day challenges but it was pretty clear that in the longer term there was a sustainability question.