"picking up the threads again" regarding BTU Industries Holdings USA Inc., BTU Ventures, QGEN, Wael Al Mazeedi.

We mentioned previously that we would have more detailed information regarding Al Mazeedi's (mis)representations of CONSPIRACY to US Federal, Massachusetts State, and Cayman Islands courts.

Al Mazeedi (primarily through WilmerHale's and Maples & Calders' VERY WILLING cooperation and misrepresentations) is always claiming that there are many people - exclusively his employees, investors, and partners - "out to get him" and bring him and his BTU/QGEN companies down.

We'll provide more context regarding his legal "maneuverings" and the results (the judges so far have issued decisions unfavorable to Al Mazeedi).

By the way, Al Mazeedi's principal lawyers for the past X years have been:

1. Richard Johnston - Wilmer Hale
2. Simon Firth - Maples and Calder

We'll also "pick up the thread" of James Commodore and Brian Murphy's affidavits.

Conclusions:
Murphy made factual assertions before US Federal Court.

James Commodore, on the other hand, just wanted to ingratiate himself to Wael Al-Mazeedi and stay on his good side so he wouldn't "get his ass" fired or sued.  We actually analyzed and annotated Commodore's affidavit more than 2 years ago when he originally submitted it to US Federal Court.

Commodore made many "accommodations" during his tenure at BTU.  It got him an additional 8 months of paychecks at BTU.  His departure (booted out or walked out? - more likely the former) was sometime around September 2009.

Interesting public domain correspondence from Commodore exits...

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...

link: BTU Power Company Offering Memorandum - Management Structure

Al-Mazeedi and WilmerHale (and/or Maples and Calder): presenting the "truth" to US Courts

The English language is tremendously direct, and at the same time very nuanced, so that you can say nothing and appear to be saying a lot at the same time:

BACKGROUND

AL-MAZEEDI

"The Board of Directors has approved, and I am compensated, $440,000 annually..." [1st Al-Mazeedi Affidavit, Paragraph 15(a)]

Wael Al-Mazeedi tells the Court in his affidavit that Al-Mazeedi the "individual" or "shareholder" really doesn't have anything to do with the determination of his compensation:

"... I have not, either in my capacity as an individual or shareholder, taken or caused BTU Holdings to compensate me unreasonably or otherwise." [1st Al-Mazeedi Affidavit, Paragraph 15(c)]

THE COURT
In the MEMORANDUM AND ORDER PURSUANT TO RULE 1:28 in the Hayat litigation the Court establishes that Al-Mazeedi and Oishi are the ONLY directors of BTU Holdings.

• "Al-Mazeedi and Oishi are the directors of BTU Holdings."
• "No subsidiary in the BTU Group has an independent board and only Al-Mazeedi and Oishi make policy and substantive decisions."