NOTICE FROM ICFBA HOLDINGS LTD

Expelled from ICFBA

OPEN LETTER
 REGARDING
ERIC SUTHERLAND & NEURAL PATHWAYS LTD

 

In November 2005 Eric Sutherland was contracted by ICFBA Holdings Ltd (a company registered in Gibraltar) to provide his consultancy services. This continued for nearly two years until it was discovered that Eric was invoicing for work he had not done.

This prompted an audit of work done and costs invoiced which revealed that a significant amount of expenses that he was contractually obliged to pay himself had also been passed on to the ICFBA. These amounted to thousands of pounds and had been paid by the ICFBA.

Naturally, his contract was suspended and negotiations were begun for the repayment of his debt. Mr Sutherland, finding himself in a difficult position decided to begin a series of 10 page emails to the ICFBA community. This led to him being suspended from the community.

He then began legal proceedings for the recovery of the monies he had invoiced for the work he had not done.

This was all taking place as a planned move of jurisdiction for ICFBA Holdings Ltd from Gibraltar to USA was being processed. This move would involve the closing of the Gibraltar registered company.

Our legal advisor gave us four options.

• Pay him and hope he would start behaving rationally.
• Defend his claim and start proceedings for the recovery of the monies he had defrauded from the ICFBA.
         Expected chances of success 98% with expected legal costs of a further          £8,000. However, as Mr Sutherland was apparently of little substance there          was little chance of actually recovering anything.
• Negotiate a settlement.
         Expected chances of success very limited and the same result as above.

• Continue the jurisdiction move and close the Gibraltar company.
          This would mean the legal entity in the dispute would not exist. Therefore,         no further costs to the ICFBA but also no chance of recovery of its’ money.

 

We asked the community of Accredited Partners to decide on the course of action and it was decided to continue and close the Gibraltar registered company, expel Eric from the community and bring the matter to an end. This meant that the lost money was written off.

Surprisingly, Mr Sutherland continued to incur expense and continued his case against a now closed company. As it no longer existed it did not defend the case and so he won a judgement against an entity that did not exist.

This instigated a further tirade to the community from Mr Sutherland who apparently felt betrayed by them and that they should have supported him. He seems to have refused to accept that it was the community who had decided that he was not wanted among their number or to have any further dealings with him. It seems that he continues to not let any degree of accuracy affect his recollection of this matter and to nurture an almost unhealthy degree of anger.

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ICFBA Holdings Ltd
PO Box 55071 #6665

Boston, Massachusetts

02205-5071  USA