Eric Wood, who is a shareholder in the Gupta-associated firm Regiments, has abandoned an urgent application seeking to prevent the Transnet Second Defined Benefit Fund from clawing back R500-million in damages from Regiments. News reports revealed that the TSDBF has set out damning allegations against Wood, including that he set up a scheme to launder the proceeds of corrupt contracts the Guptas swung the way of Regiments Capital.