ready.
“Attorneys.”
“Attorneys?” Andreu mimicked.
“Absolutely. Not just with the actual transfer of title, but even to deal with the minutia of the language in the contracts between Prevkos and, let’s say, the companies performing the inspections. These people don’t begin to attack a building without the proper measures having been taken. Their rates, their protection against claims, there are all types of legal issues that can and will arise. I promise you, it will only make things that much tougher trying to negotiate these types of agreements with your counsel halfway around the globe.”
“Of course. We’d have to grant you power of attorney.”
“You’re pretty quick to say that considering you’re responsible for running one of the largest corporations in the world.”
“No, I’m not, Jonah. Trust me, it’s something our board has had extensive discussions about. We wouldn’t pretend to be so arrogant as to think we could negotiate such contracts. We are very comfortable giving you power of attorney. To protect ourselves, we would do so in a way that gives you such power only for our real estate affairs and negotiations in New York City, and only for a limited period of time. In this case, the three weeks we are talking about. This way, no offense, you couldn’t touch any other areas of our business outside this deal even if you wanted to.”
“No offense taken. Andreu, what about government agencies, municipalities from both countries? I understand the desired timing is strictly an internal decision driven by perceived market conditions, but people are going to start asking a lot of questions pertaining to the need for such a fast transaction.”
“Meaning?” countered Andreu, fully understanding where I was going.
“I’m just asking the questions I should be, Andreu.”
“You think we massage our numbers, Jonah?” he went on, smiling.
“What I’m saying is that, as we both know, Russian firms are perceived to handle their internal finances differently than American firms. I just want to remind you that people will start asking questions about Prevkos. And they’ll start asking fast.”
“Which is precisely what I want. Our financials are impeccable. As a public company we’re used to offering ourselves up for unequivocal scrutiny. The quicker the questions come, the faster the answers come. It will just make those involved that much more comfortable with us in terms of making a fast, clean transaction.”
“I’ll need to get a copy of your proof of citizenship and identity. In fact, I’ll need it for whoever will have the authority to deliver decisions on behalf of your shareholders. It’s strictly enforced company policy for international transactions. All board members or—”
“I represent the official voice of the board, Jonah. Always. And I have no problem giving you all of my papers.”
“You’re talking about a lot of cash here. Not just for whatever property you obtain, but for the due diligence alone involved in selecting the right purchase.”
“The beauty of living in the age of wire transfers, my friend. I understand you would need to keep funds on hand. We set up an account over here and I supply you immediately with the funds you need to do your homework. Once we’ve settled on the target, we zap the money overseas and put it in escrow until it is time to, hopefully, pull the trigger.”
“Cash held in escrow in the States would have to be with the bank of PCBL’s choice, Andreu.”
That meant Salton Lynear Bank, the preferred financial services provider of PCBL.
“Since we’re talking about so much cash it is imperative I’m able to utilize my relationships. It’s the only way to ensure moving cash through the unavoidable red tape as quickly as we’ll need to.”
“Of course. I understand that,” Andreu responded.
“Who handles your banking?” I asked.
“We deal with Tenvix.”
Tenvix International, headquartered in Moscow.
“Attorneys.”
“Attorneys?” Andreu mimicked.
“Absolutely. Not just with the actual transfer of title, but even to deal with the minutia of the language in the contracts between Prevkos and, let’s say, the companies performing the inspections. These people don’t begin to attack a building without the proper measures having been taken. Their rates, their protection against claims, there are all types of legal issues that can and will arise. I promise you, it will only make things that much tougher trying to negotiate these types of agreements with your counsel halfway around the globe.”
“Of course. We’d have to grant you power of attorney.”
“You’re pretty quick to say that considering you’re responsible for running one of the largest corporations in the world.”
“No, I’m not, Jonah. Trust me, it’s something our board has had extensive discussions about. We wouldn’t pretend to be so arrogant as to think we could negotiate such contracts. We are very comfortable giving you power of attorney. To protect ourselves, we would do so in a way that gives you such power only for our real estate affairs and negotiations in New York City, and only for a limited period of time. In this case, the three weeks we are talking about. This way, no offense, you couldn’t touch any other areas of our business outside this deal even if you wanted to.”
“No offense taken. Andreu, what about government agencies, municipalities from both countries? I understand the desired timing is strictly an internal decision driven by perceived market conditions, but people are going to start asking a lot of questions pertaining to the need for such a fast transaction.”
“Meaning?” countered Andreu, fully understanding where I was going.
“I’m just asking the questions I should be, Andreu.”
“You think we massage our numbers, Jonah?” he went on, smiling.
“What I’m saying is that, as we both know, Russian firms are perceived to handle their internal finances differently than American firms. I just want to remind you that people will start asking questions about Prevkos. And they’ll start asking fast.”
“Which is precisely what I want. Our financials are impeccable. As a public company we’re used to offering ourselves up for unequivocal scrutiny. The quicker the questions come, the faster the answers come. It will just make those involved that much more comfortable with us in terms of making a fast, clean transaction.”
“I’ll need to get a copy of your proof of citizenship and identity. In fact, I’ll need it for whoever will have the authority to deliver decisions on behalf of your shareholders. It’s strictly enforced company policy for international transactions. All board members or—”
“I represent the official voice of the board, Jonah. Always. And I have no problem giving you all of my papers.”
“You’re talking about a lot of cash here. Not just for whatever property you obtain, but for the due diligence alone involved in selecting the right purchase.”
“The beauty of living in the age of wire transfers, my friend. I understand you would need to keep funds on hand. We set up an account over here and I supply you immediately with the funds you need to do your homework. Once we’ve settled on the target, we zap the money overseas and put it in escrow until it is time to, hopefully, pull the trigger.”
“Cash held in escrow in the States would have to be with the bank of PCBL’s choice, Andreu.”
That meant Salton Lynear Bank, the preferred financial services provider of PCBL.
“Since we’re talking about so much cash it is imperative I’m able to utilize my relationships. It’s the only way to ensure moving cash through the unavoidable red tape as quickly as we’ll need to.”
“Of course. I understand that,” Andreu responded.
“Who handles your banking?” I asked.
“We deal with Tenvix.”
Tenvix International, headquartered in Moscow.
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