The following excerpts were taken from the petition by QIA to wind-up BTU Power Company
Simple Request from Qatar Investment Authority, Qatar National Bank, etc...
"Let us exercise our audit rights."
"In addition to seeking information from the Company, the Petitioners also notified the Company in early 2010 that it was exercising its right to conduct an audit of the Company's books and records pursuant to article 129.2 of the Amended Articles..."
Response from Wael Al Mazeedi, the self-proclaimed "careful steward" of the investors investments ... Almazeedi:
repeatedly refused to agree to any definitive date for the audit to proceed;
asserted that the Petitioners must prepay the costs of the proposed audit, including the costs of the Company's lawyers and accounting service provider in connection with any proposed audit; and
purported to require the Petitioners and their proposed auditor to execute an onerous confidentiality stipulation that sought to discharge and hold harmless the Company, Almazeedi and any of their affiliates for any misconduct that might be uncovered as a result of the audit.
QUESTION
Why would someone who stated in the website for BTU Power Company that:
"I want to take this opportunity to assure current and prospective employees, current and future investors, partners, family and friends that BTU remains steadfastly focused on meeting its fiduciary responsibility and protecting its investors"be anything other than happy and eager to open up the books to the Qatar Investment Authority, Qatar National Bank, etc. so they can see what a fantastic job he's been doing with their money.?
Wael Al Mazeedi: BTU Power Company "Founder's Statement" dated February 2011
4 comments:
Open the books, QGEN books are BLANK.
Ms. Christina Stephens kept no notes, but was very sloppy in her work.
Ms. Le, she had access to all the Financials, the Petitioners should depose her. She will cover her ass and rat out anyone and all of them.
I think the Petitioners should hire a private firm to audit them. I bet a few former Financial employees will tell the truth.
I remember a sales guy came into the old office on Winter Street. He was told that BTU had a yearly income of $500 Million, but figured out he was lied to. He left the office with both a BTU & GGEN cards, knowing that it was a waste of time.
I was there with 2 former employees, we all laughed at the $500 Million yearly income.
LOL. That was the funniest joke of Founder's Statement!!!
Who the hell talks about lawsuits as the focus of the company?
I will be speaking to MIT about stopping QGEN from sponsoring any event in the future.
This blog should contact MIT Energy Conference people to see why they accept lies? QGEN owns NO ASSETS and has NO INCOME and NO INVESTORS.
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