Seán Fleming (Laois, Fianna Fail) | Oireachtas source

Everybody has asked about the service Brown Rudnick was offering to Cerberus, and the cost. How Cerberus spent its £15 million is its affair but there is one sentence I am intrigued by and Mr. Neporent has given a reason in paragraph 3.15 of his opening statement in which he states: “Brown Rudnick also told Cerberus that if Cerberus did not wish to enter into this arrangement, it would offer its services to another bidder.” Essentially Cerberus was closing it off going somewhere else. As a business person, I would have said, given that Cerberus was in a high bid situation part of the reason it might pay somebody who said it had an insider’s knowledge is to get the benefit and to close that person off going somewhere else. Let us be pragmatic about it.