Bors and Luther return to Ulfrecht where they meet Arturo in the town square next to a large statue of a stone horse. Arturo tells them that after tailing the thieves guild, he has identified a number of important personalities: the half-ogre Lourganne, the Akmeri wizard Drashan, the sly dart-thrower Hetwick and the pierced and foul-mouthed Caglan. He has never seen Lunnegan, the boss, but knows that he is based out of the Coinhouse and coordinates some meetings from beneath the town jail.
Pennythane, it turns out, has recruited the thieves guild of Ulfrecht to assist him in pulling a grand heist on Blackfell Keep. Arturo doesn’t know what they plan to steal and can’t keep track of Pennythane, so he has followed Caglan’s routes for days and caught the filthy thief in a pit trap. The trio goes to collect their captive.
Caglan makes a bizarre threat of dismemberment, but the trio ignores this and proceeds to take him North. He is uncooperative, but they figure Edmund Thane will be happy to get the information on the heist out of him.
Before they can make it through the slums and out of the city, they are ambushed by thugs, who strike from the rooftops with crossbows, as well as a small pack of mangy dogs.
Arturo sneaks up the side of one of the buildings and cuts down and unaware thug. Bors and Luther each enter a building; Bors gets surrounded by dogs but kills one and locks the other in a room. By the time Luther makes it to a roof, the thugs have grabbed Caglan and are dragging him away. Luther dives down, kills one thug with his greatsword, and allows the other to flee.
The trio drags Caglan along the banks of the Tarn as a foggy night falls upon them.
Other notes: Lourganne killed by Arturo, Pennythane’s form destroyed by Luther, Caglan captured