Hope you can translate in Thai this summery of the problem, you could list all docs remitted to help lawyer to study the case as well
I have a 50% share in Aquavina Investment Pte Ltd Singapore, Michael Cohen has 50%
Aquavina invested in property biz in Koh Samui through Samui Beach Properties co Ltd , in which Aquavina hold nearly 49% Share. Each Michael and myself hold officially 1 share only as partner as well, Both of us, together with Aquavina hold preference votes to manage the company
The other partner is old friend of Michael Cohen, Ms Warunee Sarika and minor shares are left to her relatives. She bought 51% of the capital set of 4 Millions Bath through a loan to Aquavina Investment PTE Ltd as well
She is director and managing at this time the company
I have, for some unlucky reasons, no more funds available at this time and for the past 3 years, I do not expect to get back enough funds to support in the next 18 months
Since I cannot follow the funds needs of Samui Beach Properties and Aquavina, Michael took over without Board meetings most decisions, if I wouldnt agree he would blackmail me menacing Bankrupcy
Bankrupcy of Aquavina and Samui beach properties, its subsidiary in which Aquavina invested all its funds
Of course I believe his move is to push to bankrupcy so that he can re-buy at lowest possible cost the valued capital since I cannot follow through friends !!!
Documents remitted over the set up of Samui Beach Properties co Ltd and evidences of fundings showing most of the incoming funds’ origin
- 2 transfers from me, Patrick Nouvel, direct to Lawyer for acquisition of the land being considered as a loan from Aquavina
Michael cohen sent at that time strictly the same funds amount
- 2 loans respectively of 300.000 $us have been effected lately by Michael cohen to Samui Beach Properties Co Ltd to finish the construction and deliver the 2 villas sold since funds were not finally enough to do so
The major villa ‘’ Baan Paradise ‘’ has been sold to Michael Cohen ( under a new Thai company set for it ) on a basis of a builder BOQ for 30 Millions Bath, which was supposed to be the cost price !!
The actual cost is now accounted for about 47 Millions + land, SBP still owe builder 2.8 M for the finishing of this Villa. Without payment I believe Builder will request bankrupcy and Michael would settle the matter from back side, buying over SBP
No board of directors meetings had been set to agree ( against the article of association needing 75% votes to do so ) over the sell of villas or make loans. No official written docs under Michael Cohen blackmailing of, if I wouldnt agree on sale or loan, no positive end of the venture or bankrupcy would be required
The second villa ‘’ Baan Bianca ‘’ has been sold to one of his best friend for equivalent to 40 Millions bath, its nearly the cost price including the land.
My aim is to try to separate in 2 the left capital, means the assets being the left unsold lands and avoid bankrupcy, I see no end of his maneuvers, also make invalid the conditions of loans to Samui Beach Properties Co Ltd
I proposed him several time to buy over my shares even at lower than costs prices, he has surely and admitted he has the means and then take all the well expected profits but dont like to do so
I have also at disposal many E.mails in French showing obvious blackmails like
‘’ if you dont do or accept that, I will do such and such proceedings ‘’ leading to disaster !!!
In Singapore a lawyer confirmed me that through court, within 2 years including appeal we would surely obtain the right to separate the capital in 2 equivalent value due the iniquitous management of Aquavina investment Pte Ltd and actual impossibility to manage the company the right way , but then it would involved finally Thailand law in the process since the assets are in Thailand
How to do to have the Thai law to protect my interest and investments ?