Mr. Brendan McDonagh:

We understand, again just based on what PIMCO told us, that this transaction was being run by its front office team, in terms of trying to buy the portfolio. I presume that, as part of their credit approval for making a bid, they have to go through an internal process involving their compliance department. PIMCO's own compliance team or the compliance department discovered, probably through their checks and balances, that there was going to be a fee payable to third parties. Fees payable to third party by private equity funds are not unusual at all.