Mr. John Collison:

There is a huge difference between what was in the data room in phase 1 and phase 2, but in terms of the redacted information, the same information in respect of the top 55 assets of phase 1 and phase 2 was redacted.

It was redacted for both phases. The board made a decision - I believe on 13 February 2014 - as an exception to policy to provide all of the November 2009 Red Book valuations for the rest of the portfolio. Those were uploaded to the main phase 2 data room at that stage. In terms of the volume of documents, the level of information that PIMCO would have received at the start was less than 10% - it might even have been nearer to 5% - of what was ultimately uploaded to the data room.