Re: HL Loan - CD/SM call note 8.8.13
Nuts. Charles (CD) is a one-man lawy=r show who is now selling himself as "PA's private lawyer"..= He is talking to the Howard legal counsel who is in a different leagu=.
What do you think ??
ATTENDANCE NOTE=/b>
File
Urramoor
1
Matter
HL Asset Manage=ent etc<=div>
Date
8 August 2013
Fee earner
Charles Douglas
CPD attending Stev= Merkel on telephone to NYC at 20:30 hours on Thursday 8 August 20.30 BST<=> <=div> CPO had in front of him the nuggets and checked that SM had received either=a copy of or the thrust of AC's nugget email of the text to HL. He co=firmed that he had.
It is common ground that no PG will be required from AC.
=/ol>
=/u>We a=reed that it was appropriate to accelerate the agreement of the primary as=et management entity as soon as possible.
=/u>
- It is recognised that the asset management entity will have no balance shee= value day 1 but the commitment by AC to contribute any profits derived fr=m the similar activity carried on outside the assets management company wo=ld be acceptable until such time as the debt was repaid.
CPD agreed to send through to SM a copy of what we discussed and agreed (wh=ch will effectively be this attendance note suitably doctored) whereupon h= will double check that this is acceptable to HL and we can proceed. =/u>
CPD suggested =hat the intention was to put the structure together as soon as possible su=ject only to SM telling CD who the internal tax adviser would be and we wo=ld then plug that person into Robert Langston but that apart we were agnos=ic as to which jurisdiction, USA, Cayman or otherwise as AC would simply d=clare his interest to HMRC in the usual way.
<=div>
A positive and short discussion which seems to reach agreement and accord.<=>
Next step
2
- This note to be approved, doctored and sent to SM.
<=iv style="margin-top:0cm;margin-right:0cm;margin-left:0cm;margin-bottom:=.0001pt;font-size:11pt;font-family:Calibri,sans-serif"> </=iv>
Tax =uys to talk.
Agree shareholder agreement to reflect the above provisions in the entity=92s constitution.
Make advance.
Please do let me know if the above is agreeable and/or any comments.
<=div>
Thank you.
Charles
Charles =/span>Douglas=/u>
=A0Solicitors LLP=u>
17 Albemarle Street=/u>
Mayfair
London
W1S 4HP
<=u>
DX82976 MAYFAIR
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For your conversation with Charles
no no no no no, howards main businesss is gambing=in las vegas. he will have to disclose to the las vegas commsion =his arrangeent and you will have holy hell to pay