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  • Yasemin Tekiner in her individual capacity, as a beneficiary and a Trustee of The Yasemin Tekiner 2011 Descendants Trust and derivatively as a holder of equitable interests in a shareholder or a member of the Company Defendants v. Bremen House Inc., German News Company, Inc., Berrin Tekiner, Gonca Tekiner, Billur Akipek in her capacity as a Trustee of the Yasemin Tekiner 2011 Descendants Trust, Zeynep Tekiner (Intervenor Plaintiff)Commercial Division document preview
  • Yasemin Tekiner in her individual capacity, as a beneficiary and a Trustee of The Yasemin Tekiner 2011 Descendants Trust and derivatively as a holder of equitable interests in a shareholder or a member of the Company Defendants v. Bremen House Inc., German News Company, Inc., Berrin Tekiner, Gonca Tekiner, Billur Akipek in her capacity as a Trustee of the Yasemin Tekiner 2011 Descendants Trust, Zeynep Tekiner (Intervenor Plaintiff)Commercial Division document preview
  • Yasemin Tekiner in her individual capacity, as a beneficiary and a Trustee of The Yasemin Tekiner 2011 Descendants Trust and derivatively as a holder of equitable interests in a shareholder or a member of the Company Defendants v. Bremen House Inc., German News Company, Inc., Berrin Tekiner, Gonca Tekiner, Billur Akipek in her capacity as a Trustee of the Yasemin Tekiner 2011 Descendants Trust, Zeynep Tekiner (Intervenor Plaintiff)Commercial Division document preview
  • Yasemin Tekiner in her individual capacity, as a beneficiary and a Trustee of The Yasemin Tekiner 2011 Descendants Trust and derivatively as a holder of equitable interests in a shareholder or a member of the Company Defendants v. Bremen House Inc., German News Company, Inc., Berrin Tekiner, Gonca Tekiner, Billur Akipek in her capacity as a Trustee of the Yasemin Tekiner 2011 Descendants Trust, Zeynep Tekiner (Intervenor Plaintiff)Commercial Division document preview
  • Yasemin Tekiner in her individual capacity, as a beneficiary and a Trustee of The Yasemin Tekiner 2011 Descendants Trust and derivatively as a holder of equitable interests in a shareholder or a member of the Company Defendants v. Bremen House Inc., German News Company, Inc., Berrin Tekiner, Gonca Tekiner, Billur Akipek in her capacity as a Trustee of the Yasemin Tekiner 2011 Descendants Trust, Zeynep Tekiner (Intervenor Plaintiff)Commercial Division document preview
  • Yasemin Tekiner in her individual capacity, as a beneficiary and a Trustee of The Yasemin Tekiner 2011 Descendants Trust and derivatively as a holder of equitable interests in a shareholder or a member of the Company Defendants v. Bremen House Inc., German News Company, Inc., Berrin Tekiner, Gonca Tekiner, Billur Akipek in her capacity as a Trustee of the Yasemin Tekiner 2011 Descendants Trust, Zeynep Tekiner (Intervenor Plaintiff)Commercial Division document preview
						
                                

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FILED: NEW YORK COUNTY CLERK 01/21/2021 11:26 PM INDEX NO. 657193/2020 NYSCEF DOC. NO. 51 RECEIVED NYSCEF: 01/21/2021 Exhibit 10 FILED: NEW YORK COUNTY CLERK 01/21/2021 11:26 PM INDEX NO. 657193/2020 NYSCEF DOC. NO. 51 RECEIVED NYSCEF: 01/21/2021 From: Jasmin Tekiner Sent: Wednesday, November 13, 2019 3:16 PM To: philip.michaels@nortonrosefulbright.com; Philip Michaels; benintek@gmail.com Subject: Fwd: Bremen House financial condition Hi Phil, This is Gonca’s response to my letter written via Billur, roughly an hour and a half after I sent it. I don’t feel our questions were adequately addressed, with no mention of numbers. Thanks, Jasmin Begin forwarded message: From: Billur Olgay-Akipek Date: November 13, 2019 at 11:47:54 AM PST To: Jasmin Tekiner Cc: Gonja Hartmann , Zeynep Tekiner , Berrin Tekiner Subject: Re: Bremen House financial condition Dear Jasmin, I believe that was the main topic of our last meeting in June. We unanimously agreed : 1) To abstain from overall (buildings and executive residences/houses)non emergency repairs and/or renovations. 2)Reduce legal fees 3) To sell the condo apts 140 E 63rd st. 6-D ; 40 E 78th st 6-G; 177 E 77th st 11-C. We agreed to list them between November and early spring as the tenants leases are expiring. Ideally, January ,to avoid the negative effect on the properties being listed for extended period of time. Between now and January the market is pretty slow. 4) Selling Scarsdale and Bronxville Properties In the next 1 to 5 years. All the best, Billur Sent from my iPhone On Nov 13, 2019, at 1:26 PM, Jasmin Tekiner wrote: 1 FILED: NEW YORK COUNTY CLERK 01/21/2021 11:26 PM INDEX NO. 657193/2020 NYSCEF DOC. NO. 51 RECEIVED NYSCEF: 01/21/2021 Hi Gonca et al, I’m writing to address some issues concerning our company’s current financial condition. As we discussed in our meetings with the accountants in June and September, for the past few years in a row we have had a negative cash flow- we are losing upwards of $1.2M dollars/year, roughly $600,00/year depending on depreciation - and have been using the owner’s (Berrin Tekiner) personal money to make business ends meet. I’m very concerned about how the company will continue in this state of negative cash flow and what the solution is to correct this growing debt. I know Orange Theory, as a new tenant, will hopefully be paying rent by later in 2020, as well as some additional smaller tenants, but these do not come close to covering our overall debts and monthly expenses. Mainly, what is the plan to bring us back to profitability and what is the financial forecast in terms of the company’s overall profit and losses anticipated for 2020, 2021, 2022, and 2023? Thanks, Jasmin 2