The first of Al-Mazeedi's litigation salvos: the lawsuit filed against Mr. Hayat in the Caymans (original: September 27, 2007)

Among the many documents submitted in support of various motions in Massachusetts and Cayman Islands courts there are exhibits that contain correspondence, corporate documentation, summary financials, etc.  When viewed in the wider context of ALL litigation involving Mr. Al-Mazeedi these exhibits not only inform but also elucidate.  The following email from Mr. Al-Mazeedi to Mr. Hayat (in which he offers essentially NOTHING - beyond the fee that he was already receiving for having brought in the $290 million - for his 44% ownership of BTU Holdings Company) underscores a particular modus operandi of Mr. Al-Mazeedi (and Ms. Oishi).

Note: links to the principal filings in the Caymans litigation are found at the bottom of this post.

2006

Al-Mazeedi describes how much the personal and family relationship he's developed with Hayat means to him.

"However, due to the personal and family relationship we both have and which I, in particular, value..."

 link: Wael Al-Mazeedi "offer" to Mohsen Hayat for his 44% interest in BTU Holdings Company

2007

Al-Mazeedi sues Hayat in the Caymans

Tactical and abusive nature of the Writ  [from Hayat's Defence and Counterclaims] 

2. Mr. Hayat's contacts and business expertise were crucial to the successful formation and funding of the BTU Group. But for Mr. Hayat's considerable endeavours there would have be no prospect of the BTU Group developing past its start-up phase. The subsequent growth in value of the BTU Group was as a direct result of Mr. Hayat's services, particularly in respect of the negotiations which led to the provision of funding under the Evolvence Agreement.

3. The BTU Group was from the beginning intended to operate as a quasi-partnership, drawing and developing upon the respective skills and contacts of the main shareholders. Unfortunately having benefited from Mr. Hayat's work, the other beneficial owners, namely Mr. Mazeedi and his wife, Ms. Mitsue Oishi (together "the Mazeedis"), increasingly sought to exclude Mr. Hayat from the participating in the management of the BTU group and have sought inter alia to improperly divert maturing business opportunities to other companies which are not part of the BTU group, (although these are improperly trading in the style "BTU").

4. This Writ forms part of the break-down of the relationship between Mr. Mazeedi and Mr. Hayat. Worse still it forms part of transparent attempt to obtain a perceived tactical advantage in the wider dispute between the parties, based upon allegations which the Mazeedis know to be without merit or foundation.

5. No notice of this Writ was provided to Mr. Hayat by BTU, despite the fact that certain allegations made related to conduct which took place more the 4 years previously, and of which no complaint was made in the intervening period.

link: Amended Writ of Summons
link: Defence and Counterclaim
link: Reply to Defence and Counterclaim