The board of Twelvetrees Media has made a statement saying there is absolutely no credible evidence as far as they know of any malpractice by Tubal and Co. and, in off-the-record briefings, the editor has been described as a fantasist with a drink problem, who had a grudge against the City that flawed his judgement. Twelvetrees Media regrets that this was allowed to go as far as it did and confirms that Mr Tredizzick has been dismissed for breach of trust.

‘Amanda has issued six injunctions and threatened libel to all and sundry,’ says Julian.

‘She is terrifying.’

‘Guess why she’s so keen to shut this up.’

‘I think it might have something to do with the family trust.’

‘Exactly. Now what we need is for Goldstone to issue a statement. But I think he’ll wait a few days. He’s going to want to see how this plays. I know he’s got the Bank and the FSA on side. It’s wonderful how an election focuses the mind.’

‘You sound – sorry, Jules – more like your old dad every day. He saw the workings of democracy as pure opportunism.’

‘Short-termism is hurting this country,’ Julian says, in his father’s voice. God help me if I am becoming like my father, he thinks.

‘OK, Nige. Koopman’s. Do I tell them what has happened or leave them?’

‘I think you have to update them right away. Just say that their deposits are underwritten by Cy and that, although you are selling, you and I will be staying on. Do it before we issue a press release to that effect.’

‘Yes, I think that’s right.’

‘Do we tell them we are sending the money back after the sale, or do we gradually move it off the balance sheet?’

‘I am sure we can think up a good tax reason for leaving it. Let’s sleep on it. But we need them to say they understand and are fully apprised of the situation.’

‘I agree. Speak to Kronwinkel tomorrow. They wouldn’t have noticed until the Charity Commission’s accounts were published, of course. Rip Van Winkle syndrome.’

They go through a long checklist, prepared by Nigel, of meetings with the lawyers who are handling the sale of the building, the merchant bankers who are dealing with Cy’s people, the arrangements for the directors’ meeting to inform them and, later, the staff of the sale, the electronic reporting to the FSA, their latest fad, and a hundred other matters, including the memorial service for Sir Harry.

At midnight, the Secretary of State for Business, Innovation and Skills, Oliver Goldstone, calls.