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</o:shapelayout></xml><![endif]--></head><body lang=EN-GB link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>All,<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Please see attached for Sidley preliminary draft response which we will pick up with them in the Client Committee meeting today @ 14:00 UTC and thereafter of course in Istanbul.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Jonathan<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0cm 0cm 0cm'><p class=MsoNormal><b><span lang=EN-US style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span lang=EN-US style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> Hofheimer, Joshua T. [mailto:jhofheimer@sidley.com] <br><b>Sent:</b> 19 March 2015 05:45<br><b>To:</b> 'Jonathan Robinson'; Greg Shatan; Lise Fuhr; Maarten Simon<br><b>Subject:</b> Preparation for Istanbul -- Sidley Response to Questions in Legal Scoping Document<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Jonathan, Lise, Maarten and Greg,<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Attached please find Sidley’s preliminary draft response to the CWG Scoping Document Legal Questions. Please note that this is our initial response to the questions, is based on our investigation and diligence to date, and was prepared under tight time constraints so as to be ready for the Istanbul meetings. We tried to follow your questions to the extent possible, but the amount of time or length of response given to a particular topic should not be inferred to represent any endorsement or preference. Rather, this should be viewed as a work in progress that will undergo continued iterations as we gain a deeper understanding of the issues, challenges and priorities presented by the transition. <o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>We look forward to your feedback and review. Please feel free to forward this document as appropriate.<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Cheers,<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Josh<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><b><span lang=EN-US style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D'>JOSHUA</span></b><span lang=EN-US style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D'> <b>HOFHEIMER<br></b></span><span lang=EN-US style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#1F497D'>Partner</span><b><span lang=EN-US style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D'><o:p></o:p></span></b></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span lang=EN-US style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#1F497D'>Sidley Austin LLP<br>+1.213.896.6061 (LA direct)<br>+1.650.565.7561 (PA direct)<br>+1.323.708.2405 (cell)<br><a href="mailto:jhofheimer@sidley.com" title="Click to send email to Hofheimer, Joshua T.">jhofheimer@sidley.com</a><br><a href="http://www.sidley.com/" title=www.sidley.com>www.sidley.com</a><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span lang=EN-US><a href="http://www.sidley.com/"><span style='font-size:10.0pt;font-family:"Arial","sans-serif";text-decoration:none'><img border=0 width=35 height=35 id="_x0000_i1025" src="http://www.sidley.com/files/upload/signatures/SA-autosig.png" alt="http://www.sidley.com/files/upload/signatures/SA-autosig.png"></span></a></span><span lang=EN-US style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D'> <b>SIDLEY AUSTIN LLP</b></span><span lang=EN-US style='font-size:10.0pt;color:#1F497D'><o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='font-size:10.0pt;font-family:"Calibri","sans-serif";color:#1F497D'> </span><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p></o:p></span></p></div><p class=MsoNormal><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p></div></body></html>