[Egypt] Message to Sweden

[Naio90]

The Arab Republic of Egypt would send a private message politely reminding Sweden of the payment of the second installment for the shares sale.

@Connor

 

[Connor]

Storhet Group has not seen the agreed growth in the purchased shares thus the second instalment will not be paid until such a condition is met in line with contractual obligations. Payment will be received by the Egyptian government on the next date due, circumstances permitting.

 

[Naio90]

Sweden/Storhet Group would privately be reminded that the signed contract clearly and only stipulates that the second installment is due october 1995:


"The State of the Arab Republic of Egypt and the Storhet Group, hereinafter known as "The Parties", agree as follows:

1) The Arab Republic of Egypt will transfer, upon signing of the present contract by the Parties, 20% of its stock of Turkish Aerospace Industries (TAI) shares, 20% of its stock of Roketsan shares and 50% of its Aselsan A.S shares to the Storhet Group.

2) Storhet Group will transfer upon signature of the present contract by the Parties $2,500,000,000.00 to the Arab Republic of Egypt.

3) Storhet Group will transfer further $2,500,000,000.00 to the Arab Republic of Egypt in the month of october 1995, and further $2,500,000,000.00 in the month of november 1995. The total sum transfered from Storhet Group to the Arab Republic of Egypt will total $7,500,000,000.00."



This document was signed as it is by Egypt in post #20 and by Storhep Group in post #21 ("This contract is signed by Storhet Group"), no other conditions were specified, as shows in the copy of the contract above.

@Connor

 

[Connor]

Although selectively ignores by the Egyptian government, Storhey Group clearly stipulated that the contract was signed on the provision of stock growth; this has not occurred and thus invalidates the Egyptian capability to claim the second payment installation. Egyptian obligations have not been met.

 

[Naio90]

Replied privately. The contract signed by Storhet Group, therefore the ONLY legally binding instrument, does not mention any provision of stock growth, quite the opposite, as it explicitly indicates that the second installment is due october 1995.

This was signed and convalidated by Storhet Group.

@Connor

 

[Connor]

Storhet Group privately requests confirmation that the Egyptian government ignored 'on the provision of stock growth' during the ratification of the written contract.

 

[Naio90]

Egypt would privately reply that it faxed a written draft contact including the provisions interpreted by our side at the moment of the negotiation, and that Storhet Group subscribed it, as did Egypt, as it was without further amendments, therefore legally validating it.

 

[Connor]

Reiterated as no reply to the question has been provided Storhet Group privately requests confirmation that the Egyptian government ignored 'on the provision of stock growth' during the ratification of the written contract.

 

[Naio90]

It would be privately replied that the Arab Republic of Egypt presented the afterwards signed contract containing the terms discussed and interpreted at the moment of the negotiation; there was no intended omission, ignorance or whatsoever. The draft copy was even submitted for Storhet Group to review, but was signed by said party without further amendments.

 

[Connor]

Storhet Group would like clarification on whether or not 'on the provision of stock growth' was mentioned upon ratification of the written ck tract.

 

[Naio90]

Storhet Group would privately be informed that apparently they failed to include "on the provision of stock growth" on the draft contract, during their instance of reviewing the legally binding Document, signing the contract without it and therefore legally rendering such provision non-existent within the agrement between the Arab Republic of Egypt and the Storhet Group.

Storhet Group is legally obliged, according to the written and signed contract, to transfer 2,5bn in the month of october and additional 2.5bn in the month of november 1995.

 

[Connor]

Storhet Group notes the Egyptian governments recognition of 'on the provision of stock growth' being verbally mentioned during the ratification of the written contract, correspondence is copied to a secure server for future reference.

The group retains its position that it is remaining compliant with its obligations in line with contractual law.

 

[Naio90]

Storhet Group has signed a written contract, the only legally binding element present, and has the obligation to honor it. Informal discussions and negotiations have no legal validity in this case and would be nevertheless overruled by the written contract between both Parties.

Moreover, it would be clarified there never was any "ratification" of anything during the whole process of the agreement, just a negotiation, the drafting of a written contract and the signing of a written document.

The Arab Republic of Egypt will not take any responsability for errors or negligence commited by the legal personnel of Storhet Group in charge of reviewing and ammending the draft contract. Storhet Group had the opportunity to rewrite and return the draft contract with modifications, which failed to do, signing instead the draft as it was.

All correspondence and exchanges, including those during the process of negotiation, has been privately downloaded and secured for future legal actions if SG decides to unilateraly break the contract.

 

[Naio90]

The Arab Republic of Egypt would send a private message reminding Storhet Group of the payment of the third installment for the shares sale, while still being in debt regarding the second installment, currently breaching the signed written contract. Storhet Group is currently making itself liable to legal action.

@Connor

 

[Connor]

The instalment is transferred by Storhet Group as requested.

As Egypt did not complete it's contractual obligations set forth in order to attain the October 1995 payment, it remains disputed. The contract as it stands does not extend to any payments being made outside of the final November 1995 payment and thus a further agreement, to prevent legal liabilities issues, would be required.

It is requested that the Egyptian authorities do not speak on behalf of Storhet Group as that is potentially damaging to our business reputation - something that we will pursue via our chosen legal representation should it continue. The group is disappointed by the business immaturity displayed by Egypt from start to finish.

 

[Naio90]

Privately sent to Storhet Group.

Given the present communications are of private nature, Storhet's Group public imagen is currently unnaffected.

We have recently received notification (after our last message) of a transfer worth 2,5bn from Sweden, but not indicating in its concept wheter it stands for installment 2 or 3, mentioned in the written and signed contract. The contract mentions 3 payments of 2.5bn: One upon signature of the contract, one in october 1995 and a last one in november 1995.

We would like to ask for clarification on which "contractual obligation" the Arab Republic of Egypt "did not complete".

The Arab Republic of Egypt has no intention to create an international legal dispute over this issue, considering SG a valuable private international entity, but is determined to honor the signed contract requesting SG to do the same, in lieu of future agreements.

@Connor

 

[Connor]

Private response is sent to the Egyptian authorities.

Storhet Group has completed it's contractual obligations by sending the November 1995 instalment today, no further financial transfers will take place for this particular arrangement. We have been open and transparent about our views and opinions, we will not continue this tit-for-tat conversation between businesses with no clear outcome, if you would like to seen judicial resolution as you continue to threaten then I encourage you to do so. Our organisation is now of international scale and had a net worth of approximately $40billion, especially with the recent acquisition of Saab Group from which we are awaiting Stock Market recognition; thus making us one of the largest shareholders on the globe. The $2billion dispute with Egypt is no dent in our accounts and it does not come down to money, it is a matter on principle.

It should be known that should this matter go to court we will make a counter claim and request a compensation order for court and legal fees as a result. This could very easily surpass the $2billion mark you are disputing, putting you further in 'debt' as you word it. You have already acknowledged, in writing, that a verbal arrangement was made upon ratification of the written contract. Neither supersede each other.

 

[Naio90]

Privately sent to SG.

We inform you that we do not care the slightest about your groups portfolio or stock value, your enterprise has signed a contract which clearly states that Storhet Group has to transfer a total of $7,500,000,000.00 to the Arab Republic of Egypt. Anything less will be considered a deliberate unilateral breach of the contract by SG and not only will be pursuing legal action, including claims for compensation on loss of earnings, but also go public to warn potential customers of Storhet Group of the risks of dealing with your company.

We have a total legal backing and documents to sustain our claim, including a written document signed by your representatives stating that your company agrees to the stated terms which is now dismissing.

@Connor

 

[Connor]

Roland Carlsson shakes his head in disappointment, downloading the blackmail/extortion as part of the case file. In response the Egyptian government are informed of the download - Storhet Group announce their disappointment at the fact the Arab Republic of Egypt have gone from a civil dispute to overtly committing criminal offences.

Despite best attempts to avoid legal action with consideration to the Egyptian economy and the repercussions of financial penalties in court, legal consultation will be sought.