EFTA02313144.pdf

From: Karyna Shuliak Sent: Saturday, FebruPyligill M To: Alex Peto Cc: Marc Leon Subject: Re: Bin Ennakhil Dear Alex, We assume we are not the first to be surprised at a Christi=s Broker suggesting payment to a trust in the BVI re shares in a Lich=enstein co with no due diligence, no guarantees, no insurance, no title, re=ating to property in Morocco and bank accounts in the United States in an a=tempt to avoid both capital gains and transfer tax. The lawyers dont know w=ere to begin as well, as the date in the contract refers to August of 2017.= So this contract was drafted years ago and it appears n= one was willing to sign, is that correct? Thank=you. Best regards, =span style="background-color: rgba(255, 255, 255, 0);"> <=iv dir="ltr">Ka=yna On Feb 15, 2019, at 1:07 PM, Karyna Sh=liak wrote: Dear Alex, Thank you for your email. =/div> I am sure you are aware that this "real estate contract"=is highly irregular for Americans. 1. It is not a real e=tate contract, it is a purchase of an offshore entity, creating many c=mplexities for americans. 2. There was never a=y discussion about real estate fees on top of the price. We have bought man= properties, including through Christies and a commission was always paid b= seller. 3. The due diligence on a lichtenstein co.=will take months. 4. We would have to be indemnified=for all taxes due to morroccan government on transfer and unknown lia=iltiles of the co., especially as you might imagine, this purchase wo=ld be very high profile. 5. Is there a title on file= who would guarantee title transfer? If Christies is willing that mi=ht work. 6. We were hoping for a quick closing. With this struct=re it is not possible, and money would need to be withheld for years to bac= up the indemnity. It is very disappointing. We are told that liabilt=es would extend approx 7 years, so a payment of 10m day one and 2 milliion p=r year for 8 years might work. There clearly is no perfect title transfer u=der your proposed structure. Four jurisdictions, real estate and corp=rate and disclosure rules in each. Can you make a suggestion? <=iv dir="ltr"> Thank you. Best regards, =br> EFTA_R1_01202593 EFTA02313144 Karyna On Feb 15, 2019, at 9=36 AM, Alex Peto wrote: Dear Karyna=div class=""> The vendor will not acc=pt less than 25m euros net to him - our agency fees can either be paid by y=u or by the vendor but if he pays then the price would need to be 26m euros= We have a list o= what items he intends to remove - it is not much but for example there is a=Gauguin in the bedroom which of course he will remove - I will get this lis= and sent it to you. to call you. If you would like to discuss any of the above over the tel=phone please let me know a convenient time All the best Alex <=div> Alex Peto Partner</=ont> &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 Twitter=/0:p> =nbsp; Private Office Marrakech cunknown.png> Please consider the environment before printing th=s email. 2 EFTA_R1_01202594 EFTA02313145 This e-mail may contain confident=al and/or privileged information. If you are not the intended recipient (or=have received this e-mail in error) please notify the sender immediately an= destroy this e-mail. Any unauthorized copying, disclosure or distribution o= the material in this e-mail is strictly forbidden. <=iv class="">On Feb 14, 2019, at 21:23, Karyna Shuliak Dear Alex, Thank you for your email. Than= you, Best regards, <=span> Karyna On Feb 14, 2019, at 7:27 PM, Alex Peto =br class=""> Dear Karyna, rote: Please find attached a draft of the sale contract of the shares an= some requested information: - No transfer taxes. It is a share deal without transfer taxesq=iv> - Closing costs: Only our real estate agent's fees, 3% e= VAT - Time frame: As soon as the funds are transferre= - Due diligence: All the documents of the selle=s company are available and this company has only one asset - Bin Ennakhil i= Marrakech - MEP, roofs control: No but can be done at=anytime All the b=st Alex <Kaufvertr.g.doc> Alex Peto Partner <=pan rang= i-K-MA c ass= > www. ensing onmorocco.com <http://www.kens=ngtonmorocco.comk 3 EFTA_R1_01202595 EFTA02313146 Find us on Facebook <https://www.facebo=k.com/kensingtonmorocco/> I Instagram=/span> I Twitter</=:p> <=span> cunknown.png> Please consider the environment before printing this emai=. 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 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 wrote: 4 EFTA_R1_01202596 EFTA02313147 Dear Karyna Marc is on his way back from Italy today but w=11 send you a contract when he gets back later today. =br class=""> All the best Alex Alex Peto Partner <=pan lang="FR-MA" class=""> www.kensingtonmorocco.com <http://www.kens=ngtonmorocco.com/> Find us on Facebook <https://www.facebo=k.com/kensingtonmorocco/> I Instagram4span> I Twitter</=:p> <=span> Private Office M=rrakech <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: Opx; 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 wrote: 5 EFTA_R1_01202597 EFTA02313148 =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: 0px; 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 < Nrote: 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 world accept 25m euros. All the best Alex Peto =b class="">Partner =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/kenning=on.morocco/>Twitter <https://twitter.com/kens_properties> Private Office Marrakech 6 EFTA_R1_01202598 EFTA02313149 =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. On Feb 12, 2019, at 15:51, Ka=yna Shuliak wrote: Hi Alex, l=heard that your buyer walked away, is that true? </=iv> 7 EFTA_R1_01202599 EFTA02313150