Monday, February 28, 2011

BTU Ventures seemingly disappears: BTU Power Company takes its place (what was it before? what is it now? who was involved from the beginning?)

(note: this is a work-in-progress).  more to come from court documents filed in Massachusetts and the Cayman Islands (all available filings from Massachusetts Superior Court as well as the Grand Court of the Cayman Islands will be posted soon)....

Information from the "dockets" in the Abdulmohsen Hayat litigation (US and Caymans) helps us understand:
  • All the "players" involved in the establishment of BTU Power Company.  
  • We also learn about BTU Power Company's financial and organizational structure.  Moreover:
    • There was a BTU Power Company II at one time - it has ceased to exist since sometime in mid-2007.  
    • There were plans for a third BTU Power Company as well which never came to fruition (all to be documented soon).  
Note: Hale and Dorr, the predecessor to WilmerHale, as well as Maples and Calder have been "involved" since BTU Power Company's "formation" going back to at least 2003.  In WilmerHale's case, they have participated in all aspects of Wael Al-Mazeedi's business ventures.  The last eight (8) years have been very fortuitous for all parties involved. Hale and Dorr (WilmerHale) have been, and continue to be, instrumental in:
  • fund formation
  • corporate structuring and formation
  • debt arrangement (regarding Meiya Power Company)
  • asset disposal (regarding Meiya Power Company)
  • external counsel
  • litigation, litigation, litigation....
  • Others....
The "Principals" (from 2003 and before).
  • Hale and Dorr (US Counsel - principally Dimitri Racklin)
  • Maples and Calder (Cayman Islands Counsel)
  • PricewaterhouseCoopers Securities (principally John M. Sachs) 
  • Henry Tiedemann (BTU Power Principal Financial Officer)
  • Faisal Khan
  • Scotia Capital
  • Others...

5 comments:

Anonymous said...

Please list Mr. Faizel Khan (a.k.a. "Faisal Khan") legal name? Is this correct?

Or where or where is BTU Ventures?

The new office is listed at the Headquarted of Fateconsortium.com (Hasn't been updated since 2009!

Anonymous said...

Now Fate Consortium is listed at

60 State Street, Suite 700
Boston MA 02109

Located in the WilmerHale offices!

Wait,but they changed the phone number and fax.

Wael - Make that a PRESS RELEASE to the Boston Globe or Herald (they seem so believe you story one time).

Here I will write one for you:

I have created and a Hybird fart, one that appears to be a normal fart, but stores all the energy before deploying the fuel to a global scale.

Or

In 2 years, let me list all the way we have been successful. Hmmmm. Nothing is coming to me. Let's change the phone and fax number and move to another Winter Street location as our Head Quarters but still list the Boston Address to keep you location secret.

Now that is a Press Release.

What a joke!

Anonymous said...

So long BTU Ventures...

Wait the same cheap graphics that were on BTU Ventures since 2001, is now renamed BTUPower.com

Is BTUPower now in litigation, litigation, litigation....

Anonymous said...

http://www.arabamericannews.com/news/index.php?mod=article&cat=Community&article=1061

"Other topics included renewable energy, water resources and the Palestinian-Israeli peace process.
One speech given by Wael Al-Mazeedi, CEO and chairman of BTU Industries, outlined the activities of his $1 billion venture capital company, which invests in electrical power generation in China, South Korea, Taiwan, Tunisia and U.A.E. He spoke about the company's vision to utilize solar and hydro energy resources to help reduce reliance on coal and gas."

Unknown said...

In answer to the question regarding Mr. Faisal Khan:

A public background check service shows his name as:

Fazle Khan or Fazle M. Khan

Also, the "new" addresses for BTU are:

QGEN (USA), Inc.
BTU Industries Holdings (USA), Inc.
BTU Ventures, Inc.

All three list their address as:
890 Winter Street, Suite 310
Waltham, MA 02451

In the annual reports they filed with the Secretary of the Commonwealth on February 23, 2011.

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