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.
1. The due diligence on a lichtenstein co.=will take months.
1. 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.
1. Is there a title on file= who would guarantee title transfer? If Christies is willing that mi=ht work.
1. 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>
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
Find us on Facebook I \<= href="https://www.instagram.com/kensington.morocco/" style="color: rgb=149, 79, 114);" class="">Instag=am Twitter=/0:p>
=nbsp; Private Office Marrakech
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| | \<=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
rote:
=br class=""> | | | |
| | Dear Karyna, | | | |
| information: | Please find attached a draft of the sale contract of the shares an= some requested | | | |
| | - 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 | | | |
| | \\ | | | |
| | Alex Peto
Partner | | | |
| \<=pan rang= i-K-MA c ass= > www. ensing onmorocco.com
\\ | | | | |
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| wrote: | On Feb 13, 2019, at 12:48, Karyna Shuliak |
| ------------------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| | =meta http-equiv="content-type" content="text/html; charset=utf-8" cla=s="">
Dear Alex, |
| due diligence that has been done on sellers co.= | 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 |
| | =div dir="ltr" class="">Thank you. |
| | Best regards, |
| | Karyna |
| wrote: | On Feb 13, 2019, at 9:04 AM, Alex P=to |
| | Dear Karyna |
| ---------------------- | ----------------------------------------------------------------------------- |
| gets back later today. | Marc is on his way back from Italy today but w=11 send you a contract when he |
| | =br class="">
All the best |
| | Alex |
| | Alex Peto
Partner |
| | |
\<=pan lang="FR-MA" class=""> www.kensingtonmorocco.com
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=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; textindent: 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:
=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; textindent: 0px; text-=ransform: none; white-space: normal; word-spacing: Opx; -webkit-text-stroke=width: Opx; textdecoration: none;" class="">
Alex,
Hi Karyna
\
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
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I Twitter
### Private Office Marrakech
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### On Feb 12, 2019, at 15:51, Ka=yna Shuliak wrote:
Hi Alex,
l=heard that your buyer walked away, is that true?
\