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In 1991, a Supply Agreement existed between JAI and
Kolonaki. The original agreement, dated March 1, 1989, and
signed by Georgiou, stated: "RELATIONSHIP OF PARTIES. JA [JAI]
and KOLONAKI are, for all purposes, independent parties." A
September 12, 1991, transmittal letter from Pryor to Bernard
directed Bernard to revise the Supply Agreement between Kolonaki
and JAI (and Kolonaki and GRS). The transmittal stated: "Para.
13: relationship of parties. Now: JA [JAI] and Kol [Kolonaki]
are for all purposes indep[endent] parties. Change: JA is a
sub[sidiary] of Kol. George has agreed to both."
Revised Supply Agreements were forwarded from Bernard's firm
to Georgiou with a September 16, 1991, transmittal letter that
stated: "Enclosed are revised Supply Agreements between Kolonaki
and JAI." The changes to which Georgiou had agreed were in the
revised agreement that stated in part: "RELATIONSHIP OF PARTIES.
* * * The parties acknowledge that all outstanding shares in JA
[JAI] are held of record by GEORGE GEORGIOU under a Holding
Agreement for the benefit of KOLONAKI." The revised Supply
Agreement was dated September 30, 1989, and was signed twice by
Georgiou, once as president for Kolonaki and once as president of
JAI.
The Minutes of the First Meeting of the Board of Directors
of JAI were dated December 12, 1988. Georgiou was named sole
director, president, secretary, and treasurer. During that
meeting, it was resolved that 10,000 shares of corporate stock at
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Last modified: May 25, 2011