Mr. Frank Daly:

As my colleague explained, there is quite a lot of due diligence, compliance and legal activity in any of these big funds. We believe that when that was happening, whether it was in PIMCO's legal department or the compliance department, someone there spotted the involvement of Mr. Cushnahan. Someone raised a red flag, decided that it could be an issue for NAMA and decided to ask NAMA about it. The whole tenor of the approach and the reaction was that PIMCO did not want to exit the sale. The firm very much wanted to stay involved.