Lots of activity in the Betancourt and McBrearty litigation...

There have been multiple filings (at least 4) in the past 12 days with regards to the litigation BTU and Al-Mazeedi instigated against Betancourt and McBrearty.  We'll try to post the most relevant ones shortly.

Note: from a recent court filing in the McBrearty litigation... "On June 13, 2011, the Court [Commonwealth of Massachusetts, Middlesex County Superior Court] ruled that only two counts of BTU's Ten Count Verified complaint against McBrearty presented trialable damage issues holding that BTU had failed to demonstrate ANY EVIDENCE [emphasis added] of actual harm suffered as a result of McBrearty's conduct." 

Observation:  didn't even need to go to trial for the judge to determine that 80% of the case against McBrearty should essentially be thrown out...

Back to Wael's histrionics.  From the BTU end, the latest filings are filled with shrill accusations of conspiracy.  To quote:

"The documents further revealed that Betancourt and McBrearty together then disseminated BTU's proprietary documents and information to de Ravel as part of a conspiracy to oust BTU's incumbent management, to undermine BTU's vital investor relationships,and to establish a competing company that would attract BTU's institutional investors and take possession of BTU's investment assets."

Anybody who's followed this blog even just in passing would immediately know that NONE of those assertions could ever happen...

• Wael Al-Mazeedi is TOP DOG of the whole BTU/QGEN/FateConsortium empire (he is "Founder", Owner, Chief Executive Officer, President, Treasurer, Director, Secretary, Chairman of the Board, Principal Visionary, Master Tea Drinker, etc..  In other words, only Al-Mazeedi could decide to remove Al-Mazeedi.
• Not even the single majority owner of BTU, Abdulmohsen Hayat (44% owner of BTU Holdings Company), could set foot, of his own volition, in BTU's offices once he was ousted as a director of BTU Holdings Company (the parent company) by Mitsue and Wael in 2007.
• BTU Power Company is still around in exactly the same form it has ever been...

Mr. Hayat can't even get in the door of the offices of the company that "manage" his absolute majority economic interest in the parent company...


We've documented from various sources that Wael's BTU Power Company investors want to GET OUT....

• ... yet, these are his "vital investor relationships"
• ... yet, they CAN'T GET OUT because only Wael decides what they can do and when they can do it...

Maybe Wael has not thought everything through... If someone came along and "undermined" the current state of his relationships with his investors it could only mean that that person has convinced the investors to do the opposite of what they want to to...

• ...they want to get out...
• if the "conspirators" undermined that stated objective of the investors, it means that the conspirators would convince the investors to "stick it out" with Wael...

Where's the logic (other than in Foley Hoag's - a "shadow" of WilmerHale - pleadings)???