Hayat (44% owner) is "frozen out" of his investment by Wael Al-Mazeedi and Mitsue Oishi

The following paragraphs provide further detail regarding the corporate and ownership structure of the BTU group of companies. Links to the Hayat Amended Complaint as well as the lawsuit referenced below (Murphy) are included in the section of this blog titled LAWSUITS.

35. After freezing out Hayat, Al-Mazeedi and Oishi began to form their own parallel set of companies that had no subsidiary relationship to Holdings, to carry out the business of the BTU Group. BTU Industries Holdings (USA) Inc. ("Industries USA") is a Delaware corporation, which is a subsidiary of BTU Industries Holdings Limited, a Cayman corporation. On information and belief, Al-Mazeedi and Oishi are the shareholders in the parent entity. Moreover, Al-Mazeedi and Oishi are the sole shareholders of BTU Industries, Ltd., the corporation that received the $8 million consulting fee described above. Hayat does not hold shares in any of these entities.