Mr. Brian Kealy:

Yes. I will describe the way it was worked. PTC had very few assets. Its main assets when it went into liquidation were moneys owed to it by Shemburn, which is called the parent company, but it is more complicated than that in terms of who the shareholders were. There was €1.6 million owed by the parent company which had used the cash received from PTC to buy aircraft and a simulator. It was over-lending to Shemburn by PTC and particularly that loan which caused Mr. Justice Haughton to decide to restrict the director of PTC because it had previously written off a loan between the two companies and then proceeded to give another, even though it had already lost €1.6 million.

Essentially, Shemburn owned the planes. Subsequently Shemburn was-----