Mr. Brendan McDonagh:

Two small points arise in that regard. First, Fortress signed up to the bid process letter with Lazard under those conditions. It knew what it was signing up to in February 2014. Second, and I believe that we have provided the e-mail to the committee, but when Mr. George wrote to me in February 2014, he said that he had $4 billion. That was in excess of the £1.3 billion. When one signs up to a process, one is saying that one has the money. If Mr. George is now saying that he did not have the money to do it, he signed up to a process for which he did not have the money in the first place.