Perhaps even more pleased than Ernst & Young about the settlement with Equitable will be David Law of PricewaterhouseCoopers, who was seen smiling like a Cheshire cat throughout the day.

No doubt Mr Law was ecstatic not to face more questioning from E&Y’s QC, Jonathan Gaisman, who had for three days been tearing him into small pieces ­ metaphorically speaking, of course.

Chris Dickson of JDS fame was also witnessed putting in an appearance on the previous Monday, just after 12 O’clock.  Perhaps he was gaining some tips for the JDS’s own tribunal on the matter, which can now go ahead.

Once the shooting ended and the white flag had been raised, TS adjourned to the offices of Herbert Smith where Equitable was explaining its, ahem, settlement, to gathered journalists. When TS said where we were from, Vanni Treves announced delightedly: ‘Accountancy Age? Ooooo, you’ll have a story to tell.’

We certainly will, Vanni, we certainly will.