Finance committee  Here's the good news, sir. We were very clear, and it was also in the contract, if I'm not mistaken, that we had tens of millions of dollars of insurance, which we added as [Inaudible—Editor] to the foundation to ensure that this whole initiative was protected. Of course, in the

Finance committee  Sir, we didn't have a specific conversation about the amount of assets, but ESDC was clear that this was with the WE Charity Foundation specifically to help limit liability.

Finance committee  Sir, can you clarify the teachers' incentive? We are unclear about your statement.

Finance committee  We're very glad you asked that question, because that's another misconception.

Finance committee  Absolutely, sir. The conversation with ESDC was about liability. ESDC was asking us to take on the liability. That was the concern with ESDC and the Government of Canada, that the liability for the first 40,000 young people would rest solely with WE Charity. Under those circumsta

Finance committee  Sir, it's not a shell company. I want to stress again that that is an inaccurate statement. The foundation is a registered charity, so characterizing it, sir, with great respect, as a shell company is not right.

Finance committee  Sir, when we did the contract negotiations with ESDC, we mutually agreed that March 5 would be the start date.

Finance committee  We'd have to get you the exact date, sir, but it was part of the contract negotiation period. During that time we—

Finance committee  Mr. Chair, thank you. We were working diligently through that period, and ESDC was aware that we were working diligently through that period. ESDC suggested that this date, the date you mentioned, to be very specific about “that date”—

Finance committee  We'd have to go back to our records, sir, but we were all working in coordination throughout that entire period, sir.

Finance committee  I'll have to check my records, sir.

Finance committee  Not to our knowledge.

Finance committee  Not to our knowledge.

Finance committee  No.

Finance committee  We're not aware, sir.