EFTA02338413.pdf

From: Richard Joslin < Sent: Tuesday, August 26, 2014 7:31 PM To: jeffrey E. Subject: FW: LDB 2011 LLC So much for telling the truth....the compliance Officer title still cracks =e up Original Message From: Richard Joslin Sent: Tuesday, August 26, 2014 3:13 PM To: Ada Clapp Subject: RE: LDB 2011 LLC I am on a call with Scott and he indicated you and he spoke over the phone =nd you and he reviewed the Sotheby's valuation engagement letter with you.=fyi Original Message From: Ada Clapp Sent: Thursday, August 14, 2014 9:39 AM To: Richard Joslin Cc: Eileen Alexanderson; Lawrence Delson Subject: RE: LDB 2011 LLC ; jeffrey =. Rich--you are misreading my email. I was not inferring anything--just tryi=g to understand the status of the LLC valuation to complete the restructur=ng. I did not speak with Scott. He left me a voicemail. As you know, I alread= told him that you were responsible for valuations which is why I have not=returned his call. Original Message From: Richard Joslin Sent: Thursday, August 14, 2014 9:25 AM To: Ada Clapp Cc: Eileen Alexanderson; Lawrence Delson Subject: RE: LDB 2011 LLC ; jeffrey =. To give you an another update - Scott and David were brought up to speed on=Phaidon and since then the plan worked out with Empire was to have the Emp=re appraisal team work to finalize the half dozen valuations for BFP befor= starting on LDB 2011 LLC. Empire does not have bandwith to assign two to=ms to our account. The accounting group is gathering documentation and p=rforming its valuation preliminaries on LDB 2011 LLC assets and the proces= developed has been strongly supported by Empire. Given that I am convers=ng daily with the Empire team and we are exchanging reports, I have a clea= grasp of the status. Your last question seems to infer I am not organize= or on top of this effort. I am not privy to your conversation with Scot= and I would have preferred that you indicate to him that this was my resp=nsibility and ask that he speak to me directly. I will speak to him to=ay. EFTA_R1_01300685 EFTA02338413 Original Message From: Ada Clapp Sent: Thursday, August 14, 2014 8:50 AM To: Richard Joslin Cc: Eileen Alexanderson; Lawrence Delson Subject: RE: LDB 2011 LLC Hi Rich, Scott left me a voicemail about this. I am not really sure I understand yo=r response to his email. Who is reviewing the engagement letter-Alan? 1= sounded like Scott has moved forward with the valuation despite the lack =f engagement letter. Is that correct? Thanks. Ada Clapp Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 This communication and any attachment is for the intended recipient(s) only=and may contain information that is privileged, confidential and/or propri=tary. If you are not the intended recipient, you are hereby notified th=t further dissemination of this communication and its attachments is prohi=ited. Please delete all copies of this communication and its attachment= and notify me immediately that you have received them in error. Thank =ou. Original Message From: Richard Joslin Sent: Wednesday, August 13, 2014 10:43 AM To: Nammacher, Scott Cc: Ada Clapp; Halperin, Alan S Subject: RE: LDB 2011 LLC The engagement letter is under review. I have spoke to Alan about the scop= of the valuation and once the BFP LP valuation team is set to focus on LD= 2011 LLC we will finalize this. I have asked Alan to join me to follow u= with you regarding our last phone conversation. I will get times from A=an and circle back. Original Message From: Nammacher, Scott (mailto Sent: Wednesday, August 13, 2014 10:38 AM To: Richard Joslin Cc: Ada Clapp; Halperin, Alan S Subject: RE: LDB 2011 LLC Richard, I hope all is well. 2 EFTA_R1_01300686 EFTA02338414 We had sent the engagement letter for the LDB work back in May (5/30). Ala= thinks he may have signed his part and sent it over for Leo's signature. =1 just wanted to follow up and get the status of the letter. Let me know=timing on its return so we can be official in moving forward. Thanks for your assistance. Best regards, Scott Scott A. Nammacher, ASA, CFA I Managing Director Empire Valuation Consultan=s, LLC 350 Fifth Ave., Suite 6115 We have moved up to a new su=te! New York, NY 10118-5513 Experience Excellence www.empireval.com Bio Original Message From: Richard Joslin [mailto Sent: Tuesday, June 24, 2014 5:15 PM To: Nammacher, Scott Cc: Ada Clapp Subject: RE: LDB 2011 LLC I need to go back to Sotheby's and get a better valuation. No issue abo=t willingness. Original Message From: Nammacher, Scott [mailto Sent: Tuesday, June 24, 2014 4:39 PM To: Richard Joslin Cc: Ada Clapp Subject: RE: LDB 2011 LLC Richard, This is really nothing they seem willing to go to audit on to defend, and i= is being used as part of a transaction. Also, the value is a material pa=t of the likely total value of the LLC. Ada agreed with me, that it makes=sense to get a more formal valuation. Are they not willing to do a formal valuation? Scott Scott Nammacher - From the Road Cell: Empire Valuation Consultants, LLC 3 EFTA_R1_01300687 EFTA02338415 From: Richard Joslin Sent: Tuesday, June 24, 2014 3:45 PM To: Nammacher, Scott; Thompson, David Subject: LDB 2011 LLC Items iii and iv. Original Message From: Melanie Spinella [mailto Sent: Tuesday, June 24, 2014 3:36 PM To: Richard Joslin Subject: FW: Scan from a Xerox Color Rich - here is the Valuation Agreement Original Message From: Color 560 imailto:NY_43_XRX_MAILROOM_BW@apollolp.comJ Sent: Tuesday, June 24, 2014 3:19 PM To: Melanie Spinella Subject: Scan from a Xerox Color Please open the attached document. It was scanned and sent to you using a =erox Color. Number of Images: 2 Attachment File Type: PDF Device Name: Color 560 Device Location: For more information on Xerox products and solutions, please visit http://w=w.xerox.com/ This email and any files transmitted with it are confidential and intended solely for the person or entity to whom they are addressed and may contain =onfidential and/or privileged material. Any review, retransmission, disse=ination or other use of, or taking of any action in reliance upon this inf=rmation by persons or entities other than the intended recipient is prohib=ted. If you have received this email in error please contact the sender a=d delete the material from any computer. Apollo Global Management, LLC Pursuant to U.S. Treasury regulations, any federal tax advice contained in =his communication, including attachments and enclosures, is not intended o= written to be used, and may not be used, for the purpose of (i) avoiding =ax-related penalties under the Internal Revenue Code or (ii) promoting, ma=keting, or recommending to another party any tax- related matters addressed=herein. Pursuant to U.S. Treasury regulations, any federal tax advice contained in =his communication, including attachments and enclosures, is not intended o= written to be used, and may not be used, for the purpose of (i) avoiding =ax-related penalties under the Internal Revenue Code or (ii) promoting, ma=keting, or recommending to another party any tax- related matters addressed=herein. 4 EFTA_R1_01300688 EFTA02338416 <?xml version=.0" encoding=TF-8"?> <IDOCTYPE plist PUBLIC "-//Apple//DTD PLIST 1.0//EN" "http://www.apple.com/DTDs/Propertylist-1.0.dtd"> <plist version=.0"> <dict> <key>date-last-viewed</key> creal>0.0</real> <key>date-received</key> creal>1409081491</real> <key>flags</key> <integer>8590195713</integer> <key>original-mailbox</key> <string>imap://jeevacation@imap.gmail.com/%58Gmail%5D/Important</string> <key>remote-ick/key> <string>138483</string> </dict> </plist> EFTA_R1_01300689 EFTA02338417