Wolf and a New Beginning.Lawrence burns the ropes binding him and reunites with Holo. She refuses to tell him what she did to placate the wolves' wrath, and then chides him again for being too nice and protecting her clothes instead of running away on his own. After being told of Liebert's betrayal, Holo transforms into her true form. With Lawrence riding on her back, she catches up with their betrayers and Nora, who is still oblivious about the betrayal and their plan to murder her. Holo routs the men but spares Liebert, who reveals that Lemerio betrayed them at the very beginning because the gold procured was only one-sixth of the intended profit. Lawrence uses this information to blackmail Lemerio, extorting five hundred Lumione gold coins over a period of ten years. Lawrence does, however, allow them to keep and use the smuggled gold to save the company from bankruptcy. After reassuring Holo of his devotion, Lawrence continues on his journey with her.