 On 11 November 2005, "The Sunday Times" agreed to apologise and pay a substantial sum in damages to Kojo Annan, accepting that the allegations were untrue.Annan appointed the Independent Inquiry Committee, which was led by former US Federal Reserve Chairman Paul Volcker, then the director of the United Nations Association of the US.In his first interview with the Inquiry Committee, Annan denied having had a meeting with Cotecna.