On December 21, 2020 a
Exhibit,Appendix
was filed
involving a dispute between
Yasemin Tekiner,
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,
and
254-258 W. 35Th St. Llc,
Berrin Tekiner,
Billur Akipek
In Her Capacity As A Trustee Of The Yasemin Tekiner 2011 Descendants Trust,
Bremen House Inc.,
Bremen House Texas, Inc.,
German News Company, Inc.,
German News Texas, Inc.,
Gonca Tekiner,
Zeynep Tekiner,
for Commercial Division
in the District Court of New York County.
Preview
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
Document Filed Date
January 21, 2021
Case Filing Date
December 21, 2020
Category
Commercial Division
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