Mr. Phil Meaney:

There were several issues. The legal advice we received was to indemnify the board member for several reasons. First, it came to light that we did not have directors’ and officers’ insurance. I have been involved in both the private and public sectors, prior to coming to the IGB. I have seen no operation where there was not a directors’ and officers’ insurance in place. Second, the legal advice was that the board member's legal team would co-join Bord na gCon's because the board member on the night in question was there representing the board as an invited guest. There were the two main reasons.