VIA EMAIL
May 5, 2017
Brad,
The money that worked its way down the chain to finance the Phaidon Press came from three
general sources:
The Publishing Trust (through the decanting) financed approximately[ comprised of 7
loans.
Caveats
Precise tracing to the specific loans, dates and sources of the funds would require some work to
review all the ins and outs at the Phaidon Global level. Phaidon Global activity includes
intermittent repayments of debt and interest as well as the payment of various expenses at the
Global level which were reimbursed by its subsidiaries.
Please let me know if you have any questions,
Joe
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