Mr. Brendan McDonagh:

I can just relate to the Deputy my recall of events here. It is important from my point of view to be able to say this to the Deputy. The reality was PIMCO's legal team was saying back in March 2014 that it had only come across this. Its commercial team had negotiated it and its legal team was still finding out facts about this whole situation. The understanding we had was that Mr. Cushnahan was not involved while he was a member of NIAC. It was subsequent to him being a member of NIAC that he got involved.