Seán Fleming (Laois, Fianna Fail) | Oireachtas source

Before I call Deputy Aylward, I want to put one question to Mr. Corrigan. Page 118 of the report made it very clear. The minutes state that, "in response to a question from the Board, it was noted that, notwithstanding the premeditated fee-sharing arrangement that had been put in place by PIMCO, the catalyst for disclosure of the arrangement to NAMA was allegedly the insistence of PIMCO's Legal and Compliance Department". In its letter to us last week, PIMCO denied that an arrangement was in place. It said it had been approached twice and had never formally agreed to it. Can Mr. Corrigan respond? Perhaps he has not had an opportunity to read the PIMCO letter but PIMCO said it was approached twice by Brown Rudnick in connection with the fee arrangement but never acquiesced or formally agreed to it. The board minutes say it was in place. The letter seems to contradict the phone call and PIMCO's letter seems to contradict the board minutes. There are divergent views. Has Mr. Corrigan any comments to make on that or is he in a position to comment on it?