EFTA02716962

From: Yvonne Berger n behalf of Brad Wechsler Sent: To: Cc: Attachments: Je=frey, Monday, July 13, 2015 9:10 PM Melanie Spinella Scan 7-13-2015, At=ached, please find a copy of the June 10, 2015 letter to Peter Goodwin reg=rding the overdue accounts. The 28-day period expired on July 8, 2015 (las= Wednesday). Wh=t we woke up to this morning is the second letter (attached) that was sent=out last Thursday, July 9th and was delivered to McFarlanes this morning.<=:p> As=l mentioned, while I haven't seen everything I believe these letters=started arriving in May and have been addressed to the directors of Acquis=tion LLP, Topco, Midco and Bidco, i.e., Leon, Eileen and in one case, Debra, albeit all addressed to M=Farlanes. We were on the phone with the UK auditors this morning and went =hrough the steps to quickly to clean-up this mess. Wi=h respect to the $3.2MM leaving Bidco and dropping down to Phaidon Press f=r the acquisition of the preferred shares, that money moved from BidcoR=7;s US bank account to Phaidon's UK bank account. The second $1.6MM wire was authorized by an email from Eileen; li=ely same result for first $1.6MM, but not nailed down yet. Th=nk, Brad EFTA_R1_02159072 EFTA02716962