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Middle East Many expats still flying in Knoteetingham. Regional issues can be discussed here.


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Old 28th Nov 2011, 13:07   #1 (permalink)
 
Join Date: Nov 2003
Location: Same planet as yours
Posts: 166
Thumbs down EPI BC gone back to homeland!

Hmm, the situation seems to me to be deteriorating. To me leaving behind a $50 million investment company appears strange, especially as he is the Director CEO or make of it what you will! Something is amiss, the flying might not be great but to give up with a company for which you are responsible for over $50 mil? If the company / investment had nothing but junk status written all over it, you wouldn't want to leave it behind and run home!

Something is not right and it looks like out of sight out of mind to me??

Thoughts?
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Old 28th Nov 2011, 14:08   #2 (permalink)
 
Join Date: Apr 2001
Location: overthere
Posts: 1,415
He is still on the roster for Dec. You may want to check your facts.

the Don
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Old 28th Nov 2011, 14:43   #3 (permalink)
 
Join Date: Nov 2003
Location: Same planet as yours
Posts: 166
If your in EPI check your email, he will be gone VVV Shortly
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Old 29th Nov 2011, 06:04   #4 (permalink)
 
Join Date: Jun 2003
Location: 43,000 ft
Posts: 83
One and only syndicate??? I think you should speak to them to find out just how bad it really is for most of the syndicates!
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Old 29th Nov 2011, 06:24   #5 (permalink)
 
Join Date: Feb 2005
Location: world
Posts: 47
Hi Sittin
EPC made one mistake in their history of investments partly due to their past successes but the present dude actually has saved

Think it was EPI doing the investments !
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Old 29th Nov 2011, 08:23   #6 (permalink)
 
Join Date: Aug 2000
Location: Work
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I think that there is some confusion here between EPI, which BC has run away from and left, and EPC which is something different.

BC now signed off sick until mid-Dec, will he be back? His house up for sale.
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Old 29th Nov 2011, 09:33   #7 (permalink)
 
Join Date: Nov 2000
Location: The Pilot Grinder
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WTF Sitting Bullsite!!!!

Not seeing any positives out of BC going home, in fact the whole thing appears to revolve around a threat of legal action against him by investors, similar to what has happened in another investment fund that went wrong.

....and have you heard of the Willie Bay syndicate??? Something like 5 years in and no sight of any return to investors.....

Yeah I would buy the guy a drink..... not!
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Old 29th Nov 2011, 11:52   #8 (permalink)
 
Join Date: May 2005
Location: Mars
Posts: 305
He resigned, tried to shorten the notice and has gone sick. Any bets on him returning mid-December or sicking it out. Excuse kids into school early, uh yeah right.....
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Old 29th Nov 2011, 21:37   #9 (permalink)
 
Join Date: Dec 2002
Location: usa
Posts: 427
He reads these posts.... And in the past has responded.

So if there is legitimacy he will respond.

From what I gathered at a recent meeting some of the investors in EPI are not pushovers nor lacking the ability to go the 'extra mile'.

This is serious for the principals.

F.
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Old 30th Nov 2011, 04:14   #10 (permalink)
short flights long nights
 
Join Date: Aug 1999
Posts: 1,690
now this is interesting So is anyone actually running EPI now, or what is happening with it?

Last edited by SOPS; 1st Dec 2011 at 03:29. Reason: added question
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Old 1st Dec 2011, 06:23   #11 (permalink)
short flights long nights
 
Join Date: Aug 1999
Posts: 1,690
Another question..where does this leave investors now? What are your thoughts?
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Old 1st Dec 2011, 18:25   #12 (permalink)
 
Join Date: Nov 2003
Location: Same planet as yours
Posts: 166
It is clear to me. The NEW GFC is about to come upon us and the current money in the company will only further reduce every ones return.

To me these 2 emails lately are a desperate call to admit defeat and own up to GTFODodge ASAP! I say all members (partners) should call a meeting ASAP and sell off everything, cut losses and move on. You try to ask for only half your initial investment back, ha hah, that would reduce their losses or increase current profits hugely but, they won't do that!

When BC gets on the plane, he won't be coming back in a hurry. In this land he fears repercussions in my opinion and back in his homeland he feels he might get away with out of sight out of mind and if there were repercussions then the law down there would be a better choice than in the UAE.

Should the members allow him to leave the country without any action to liquidate the company and he stay in the country until that happens then the members (partners) deserve whatever final return they get!

Time is running out for action!
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Old 4th Dec 2011, 12:13   #13 (permalink)
 
Join Date: Mar 2003
Location: Dubai
Posts: 6
BC

Well he was seen today at the ESC End of Service counter today with his wife. In his emails he said he had resigned from EK not EPI. If his intentions had been dishonorable then he would have just left and not told anyone until he got to Oz, rather than leave an opportunity to be stopped at the airport. Right or wrong?
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Old 4th Dec 2011, 16:17   #14 (permalink)
 
Join Date: Jun 2001
Location: OZ
Posts: 315
Have you heard of the EK contacts list?? He has a phone number, why not just call him and ask? Sorry forgot, my mistake, PPRuNe is where the real answers lie....
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Old 4th Dec 2011, 18:39   #15 (permalink)
 
Join Date: Nov 2003
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Angry

Does an open and honest statement of moving 15hours away clear you of any liability in the future > "I told them I was going and I did just that, I left, no one asked me to stay behind or tried to stop me"!

You ask them in the office for a list of the policy holders, you won't get it. It is a sure way for them to run the fund in a way that the members have no control over their money or costs of running it including salary and costs for the years to come (if the fund has any money left in it by the time they intend to run this out to).

By signing investors up as "partners" and not investors it makes you the "investor"as liable to the failure of the fund as BC. As all investors are partners, then they can get away with manipulating the fund as they wish without the investors majority vote taken into account.

There is a greater global depression forecast in the near future than in 2009, to me getting back something now is better than nothing in the future and in no way will there be any gains made on the fund in current and future markets.

EDIT > BC has already landed away and now the head has been removed from the body, we can only bounce around aimlessly with no guidance or direction and it is in the fate of luck from here on in that anything more than 30% is returned in my opinion. When was the last time they gave you an accurate valuation of your share, they have no idea to quote it as the figure diminishes by the hour.
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Old 5th Dec 2011, 07:53   #16 (permalink)
 
Join Date: Jun 2001
Location: OZ
Posts: 315
Quote:
By signing investors up as "partners" and not investors it makes you the "investor"as liable to the failure of the fund as BC. As all investors are partners, then they can get away with manipulating the fund as they wish without the investors majority vote taken into account.
So when was this epiphany, before or after you invested? Take some responsibility for your own situation like some of the rest of us... Forgotten the wine and nibblies for the "partners" when things were looking rosey, all slaps on the back as paper profit was being made???
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Old 5th Dec 2011, 10:25   #17 (permalink)
 
Join Date: Jun 2001
Location: Boldly going where no split infinitive has gone before..
Posts: 3,701
It was a medium risk investment even before the GCC.

No one has done anything underhanded. It was based on assumptions which seemed sound at the time, then circumstances (to say the least!!) changed.

It's obviously a case of salvage what can be salvaged, and anything less than a total loss I'll be grateful.
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Old 5th Dec 2011, 10:44   #18 (permalink)
 
Join Date: Jun 2005
Location: MIDDLE EAST
Posts: 461
Look on the brightside, things could be worse;

1) You could have invested in F1
2) You could have invested in Hampstead and Mayfair
3) You could have invested in Property Concepts
4) You could have invested with Nakheel in an off plan never to be built property.
5) You could be married to a woman who treats your credit card limit as a target each month.
6) You could have bought a 4 year old BMW X5 just as the expensive air suspension needed replacing.
7) Your tenants decide it's time to move out
8) You put on weight with so much stress that your whole wardrobe needs replacing.
9) Christmas is just around the corner and all three kids want new i pads.... just as stocking fillers!
10) All of the above!!!!!!!

Harry ...... still smiling..... but only just!
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Old 5th Dec 2011, 11:16   #19 (permalink)
 
Join Date: Apr 2001
Location: overthere
Posts: 1,415
If it doesn't kill you it makes you stronger Harry. Just think how happy you will feel when you sell that Beamer.
See that silver lining does have a cloud.

The Don
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Old 5th Dec 2011, 11:59   #20 (permalink)
 
Join Date: Jul 2000
Location: Dubai
Posts: 38
Ouch Harry. Any chance you could let us know where you're planning to invest next...
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