David Cullinane (Waterford, Sinn Fein) | Oireachtas source

I am following the logic of the minutes. That is all I am doing. The logic of the minutes is that PIMCO legal informed NAMA of the existence of a success fee, that it was negotiated by PIMCO's commercial team and that PIMCO disclosed that it was a three way breakdown between Frank Cushnahan, Tughans and Brown Rudnick. The minutes talked earlier about the negotiation and mentioned it again, that it commenced in April 2013 and added a further note that Frank Cushnahan's involvement was problematic because he was a member of the NIAC. If NAMA had not known that he was involved prior to his departure from the board of the NIAC, why would that have had any relevance?