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EFTA01759812

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From: Farkas, Andrew L. Sent: Friday, April 26, 2013 6:17 PM To: [email protected]' Subject: Re: Thank you for passing it along. I really don't know where to take this. I love you too and cherish our relationship. To the best of my knowledge a transaction was undertaken 5-6 years ago with full disclosure of all of the facts on either side. Definitive documents were negotiated and executed, in good faith, that reflected whatever the negotiated agreement was. Audits were conducted annually and delivered to everyone. IGY is the partner, not me personally. As far as document access is concerned, I will ensure that you get absolutely anything and everything you wish to have. But while this might provide clarity as to what went where and why, I don't know that it will address your feelings of inequity between you and the company, though I suspect that they will support the technicalities of however things had been handled. But Jeffery, I had no hand in the negotiation or documentation of the real estate deal and nor have I been at all involved in the day-to-day operations of this asset since inception. My instructions to the people who executed way back then was that you wanted to own 50% of AYH and they should negotiate a deal that worked for you. To the best of my knowledge that's what was done, it's precisely what the documents reflect, and it was all done in the bright light of day by IGY's representatives and your representatives. I believe that is the truth. IGY is owned by lots of different investors. The above notwithstanding it has been very rough sledding since 2008 when Dubai defaulted on its various obligations and the economy deteriorated. The company itself is barely solvent and we have been struggling to keep it together. A company called IGY Directives, owned by Island Capital, is the managing member of IGY and it is a fiduciary to the IGY investors. It too is in tough shape. I have made some suggestions on how to go forward and

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Independent research project. Not affiliated with the U.S. Department of Justice, FBI, any government agency, or Anthropic. All analytical text on this site is AI-generated (Claude, Anthropic) and iteratively fact-checked against source documents, but may contain errors. Verify all claims against linked EFTA sources before citing.
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