EFTA02312755.pdf

From: Karyna Shuliak Sent: Sunday, February 17, 2019 6:50 PM To: Jeffrey Subject: Fwd: Bin Ennakhil Begin forwarded message: From: Alex Peto <mailtoa Date: February 17, 2019 at 6:08:20 PM GMT+= To: Karyna Shuliak < <mailto: Cc: Marc Leon < Su=ject: Re: Bin Ennakhil Sorry for the delay - Marc i= gathering information for you and will respond shortly. All the best Alex =/div> Alex Peto Partner4=ont> &n=sp; (Offi=e) (Maroc (UK Cell) &nb=p;www.k=nsingtonmorocco.com <http://www.kensingtonmorocco.com/> Find us on Facebook <https://www.fac=book.com/kensingtonmorocco/> I <= href="https://www.instagram.com/kensington.morocco/" style="color: rgb=149, 79, 114);" class="">Instag=am I Twitter=/o:p> =nbsp; Private Office Marrakech 1st Floor, Imm El Pacha 67 Rue Ibn Khaldoun, 40000 Marrakech<=div> Morocco EFTA_R1_01201638 EFTA02312755 Please consider the enviro=ment before printing this email. This e-ma=l may contain confidential and/or privileged information. If you are not th= intended recipient (or have received this e-mail in error) please notify t=e sender immediately and destroy this e-mail. Any unauthorized copying, dis=losure or distribution of the material in this e-mail is strictly forbidden= <=iv class="">On Feb 17, 2019, at 15:36, Karyna Shuliak wro=e: Dear Alex, I am awaiting a response regarding t=e title insurance, tax indemnities, guarantees, deposits and escrow please.=When can we expect an answer? Thank you. Best regards, Kary=a wrote: On Feb 16, 2019, a= 2:43 AM, Karyna Shuliak Dear Alex,<=div> <maws, We a=sume we are not the first to be surprised at a Christies Broker suggesting&=bsp; payment to a trust in the BVI re shares in a Lichtenstein co with no d=e diligence, no guarantees, no insurance, no title, relating to property in=Morocco and bank accounts in the United States in an attempt to avoid both c=pital gains and transfer tax. The lawyers dont know where to begin as well,=as the date in the contract refers to August of 2017. S= this contract was drafted years ago and it appears no one was willing to s=gn, is that correct? Thank you. Best regards, Karyna On Feb 15, 2019, at 1:07 P=, Karyna Shuliak «mailto > > wrote: =blockquote type="cite" class=""> Dear Alex, 2 EFTA_R1_01201639 EFTA02312756 <=iv dir="ltr" class="">Thank you for your email. I am sure you are aware that this "real estate contract..90 is highly irregular for Americans. 1. It is not a rea= estate contract, it is a purchase of an offshore entity, creating ma=y complexities for americans. 3. The due diligence on a lichtenstein co. will take months. &nb=p; 4. We would have to be indemnified for a=l taxes due to morroccan government on transfer and unknown liabiltil=s of the co., especially as you might imagine, this purchase would be=very high profile. S. Is there=a title on file? who would guarantee title transfer? If Christies is willin= that might work. 6. We were hoping=for a quick closing. With this structure it is not possible, and money woul= need to be withheld for years to back up the indemnity. It is very d=sappointing. We are told that liabilties would extend approx 7 years, so a p=yment of 10m day one and 2 milliion per year for 8 years might work. There c=early is no perfect title transfer under your proposed structure. Fou= jurisdictions, real estate and corporate and disclosure rules in each. Can=you make a suggestion? Thank you. Best regards, Karyna On Feb 15, 2019, at 9:36 A=, Alex Peto < <mailto » wrote: Dear Karyna =br class=""> The vendor will not accept less than 25= euros net to him - our agency fees can either be paid by you or by the ven=or but if he pays then the price would need to be 26m euros. We have a list of what items he i=tends to remove • it is not much but for example there is a Gauguin in the b=droom which of course he will remove - I will get this list and sent it to y=u. It is not poss=ble to only buy the asset and it does save you 7% in government taxes - you= lawyers can check the company has no liabilities but I assure you anyway i= doesn't. =/div> All the best Alex Alex Peto Partner (Office) <=div> (Maroc Cell) UK Cell) <=pan lang="FR-MA" class=""> www.kensingtonmorocco.com <http://www.kens=ngtonmorocco.com/> Find us on Facebook <https://www.facebo=k.com/kensingtonmorocco/> I Instagram=/span> I Twitter</=:p> 3 EFTA_R1_01201640 EFTA02312757 <=span> Private Office M=rrakech </=pan> 1st Flo=r, Imm El Pacha 67 Rue Ibn Khaldoun, 40000 Marrakech Morocco <unknown.png> Please conside= the environment before printing this email. This e-mail may contain confidential and/or privileged information. If yo= are not the intended recipient (or have received this e-mail in error) ple=se notify the sender immediately and destroy this e-mail. Any unauthorized c=pying, disclosure or distribution of the material in this e-mail is strictl= forbidden. =br class="Apple-interchange-newline" style="font-family: Helvetica; fon=-size: 12px; font-style: normal; font-variant-caps: normal; font-weight: no=mal; letter-spacing: normal; text-align: start; text-indent: 0px; text- tran=form: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-wid=h: 0px;"> On Feb 14, 2019, at 21:23, Karyna Shuliak < c=a» wrote: =meta http-equiv="content-type" content="text/html; charset=utf-8" cla=s=""> Dear Alex, Thank you for your email. Normally seller pays commission, due diligence period to review=cos books. List of items to be removed needs detailing. Taxes owed. Can we j=st buy the asset? How are we to know that the co has no liabilities? <=span> Thank you, Best regards, Karyna On Feb 14, 2019, at 7:27 PM, Alex Peto < > wrote: Dear Karyna, 4 EFTA_R1_01201641 EFTA02312758 Please find attached a draft of the sale contract of the s=ares and some requested information: </=iv> - No transfer taxes. It is a share deal without transfer=taxes - Closing costs: Only our real estate agent's fe=s, 3% ex VAT - Time frame: As soon as the funds are tr=nsferred - Due diligence: All the documents of t=e sellers company are available and this company has only one asset - Bin E=nakhil in Marrakech - MEP, roofs control: No but can b= done at anytime =11 the best Alex<=div> <=aufvertrag.doc> <=iv dir="ltr" class=""> =br class=""> Alex Peto Partner (Office) <=div> (Maroc Cell) UK Cell) <=pan lang="FR-MA" class=""> www.kensingtonmorocco.com <http://www.kens=ngtonmorocco.comk Find us on Facebook <https://www.facebo=k.com/kensingtonmorocco/> I Instagramthpan> I Twitter</=:p> <=span> Private Office M=rrakech </=pan> 1st Flo=r, Imm El Pacha 67 Rue Ibn Khaldoun, 40000 Marrakech Morocco <unknown.png> Please consider the environment before printing this emai=. 5 EFTA_R1_01201642 EFTA02312759 This e-mail may contain confidential and=or privileged information. If you are not the intended recipient (or have r=ceived this e-mail in error) please notify the sender immediately and destr=y this e-mail. Any unauthorized copying, disclosure or distribution of the m=terial in this e-mail is strictly forbidden. On Feb 13, 2019, at 12:48, Karyna Shuliak < .<=a» wrote: =meta http-equiv="content-type" content="text/html; charset=utf-8" cla=s=""> Dear Alex, As you may already know, we are in negotiation= on another property, so please provide as much info as you can, as soon as=you are able to. Taxes on transfer, estimated closing costs, inspections, t=me frame. Has a recent MEP survey been done? Have the roofs been examined? 1= it is in co form, is there due diligence that has been done on sellers co.= =div dir="ltr" class="">Thank you. Best regards, Karyna On Feb 13, 2019, at 9:04 AM, Alex P=to < <mailto:n> >= wrote: Dear Karyna Marc is on his way back from Italy today but w=ll send you a contract when he gets back later today. =br class=""> All the best Alex Alex Peto Partner (Office) <=div> (Maroc Cell) UK Cell) <=pan lang="FR-MA" class=""› www.kensingtonmorocco.com <http://www.kens=ngtonmorocco.comh 6 EFTA_R1_01201643 EFTA02312760 Find us on Facebook <https://www.facebo=k.com/kensingtonmorocco/> I Instagram=/span> I Twitter</=:p> <=span> Private Office M=rrakech </=pan> 1st Flo=r, Imm El Pacha 67 Rue Ibn Khaldoun, 40000 Marrakech Morocco <unknown.png> Please conside= the environment before printing this email. This e-mail may contain confidential and/or privileged information. If yo= are not the intended recipient (or have received this e-mail in error) ple=se notify the sender immediately and destroy this e-mail. Any unauthorized c=pying, disclosure or distribution of the material in this e-mail is strictl= forbidden. =br class="Apple-interchange-newline" style="font-family: Helvetica; fon=-size: 12px; font-style: normal; font-variant-caps: normal; font-weight: no=mal; letter-spacing: normal; text-align: start; text- indent: 0px; text-tran=form: none; white-space: normal; word-spacing: Opx; -webkit-text-stroke-wid=h: Opx;"> On Feb 12, 2019, at 23:20, Karyna Shuliak c <=a» wrote: =div dir="ltr" style="caret-color: rgb(0, 0, 0); font-family: Helvetica;=font-size: 12px; font-style: normal; font-variant-caps: normal; font-weight= normal; letter-spacing: normal; text-align: start; text- indent: Opx; text-=ransform: none; white-space: normal; word-spacing: Opx; -webkit-text-stroke=width: Opx; text- decoration: none;" class=""> Alex, Thank you. Karyna On Feb 12, 2=19, at 4:57 PM, Alex Peto «mailto > wrote: 7 EFTA_R1_01201644 EFTA02312761 Hi Karyna </=iv> This is not true. Marc (my business partner you met) fle= to Italy yesterday and is currently with the owner, he has a written offer=@ 29m euros but with one complication. The owner is not well and does not w=nt to wait for this to be resolved so for a very quick deal I am told he wo=ld accept 25m euros. All the best Alex Peto =b class="">Partner (Maroc C=II) (UK Cell) c=font> =www.ken=ingtonmorocco.com <http://www.kensingtonmorocco.com/> &nbs=; &n=sp; Find us o= =acebook <https://www.facebook.com/kensingtonmorocco/> I <https://www.instagram.com/kensing=on.morocco/>Twitter <https://twitter.com/kens_properties> Private Office Marrakech 1st Floor, Imm El Pacha=/span> 67 Rue Ibn Khaldoun, 40000 Morocco =span id="cid:FB3C2ABB-D5E6-479A-9F8C-2F4FF4461F15" class=""><unknown=png> Please consider the environment before printing this email.&n=sp; This e-mail may contain confidential and/or p=ivileged information. If you are not the intended recipient (or have receiv=d this e-mail in error) please notify the sender immediately and destroy th=s e-mail. Any unauthorized copying, disclosure or distribution of the mater=al in this e-mail is strictly forbidden. <mailto On Feb 12, 2019, at 15:51, Ka=yna Shuliak > wrote: Hi Alex, l=heard that your buyer walked away, is that true? 8 EFTA_R1_01201645 EFTA02312762 9 EFTA_R1_01201646 EFTA02312763