Khan resigns

However, in early January 2009, upon observing Mr. Khan’s true management style and seeing that the strong owner hostility towards his company was not subsiding; the board asked Khan if he would voluntary resign.

An e-mail from Manzoor on 16 January 2009 states his position.

From:   "Manzoor Moorshed Khan" [mkhan@channelproperty.ca]
Date:      01/16/2009 10:56 AM
To:         706 president
CC:        706 board members
Subject:  RE: requistion meeting

Hi,
I have read your email and do not quite understand what is the meaning of Channels termination. The board of directors did not discuss the termination nor did they pass any motions at the last meeting (Jan 8th 2009) regarding Channels termination. Channel has proposed a solution to walk out because of lack of cooperation of owners side. But the majority of the board has disagreed and wants Channel to stay and call the requisitionists meeting, but there was no decision made regarding the meeting date.

You have mentioned that you will talk to the requisitions and get back to the board for the further decisions. If the board decided on termination of Channel I need a notice of termination signed by 3 board of directors with 60 days notice effective from Feb 1 2009 – March 31, 2009.

I hope, I have been able to clear the point to you.

Please discuss this as aboard and ask them to confirm the termination (if in fact there is a termination) and provide in writing.

Channel is not willing to stay or manage the property if the board of directors are not comfortable with us being there, so my proposal was that we can submit a resignation IF that is what the board wants to do and this resignation will take effect from Feb 1, 2009 to Match 31,2 009. It is up to the majority of the board to make the decision.

Please treat this as URGENT matter and I request all board members to respond ASAP.

Best regards,

Khan resigns
On 27 January 2009, Khan gave written notice that he was terminating his contract and it would expire in sixty days.

Special owners’ meeting
The special owners’ meeting was held on 10 February 2009. Armed
with Channel’s resignation the directors easily defeated the requisition
to replace the board. The next morning Khan sent the board the
following e-mail.

From: "  Manzoor Moorshed Khan" [mkhan@channelproperty.ca]
Date:      02/11/2009 09:48 AM
To:         706 board of directors
Subject:

Good Morning Board Members,
 
CONGRATULATIONS on your last night victory and Thank You for the opportunity you have provided Channel with. This was one of the worse meetings I have ever witnessed in my life.

However, in accordance with out resignation letter we intend to complete our notice period up to March 31st 2009 for the business perspective and for the job security of the property manager, I would like to propose to the board that Channel is willing to end this term on Feb 28th 2009 if the board has already hired another company or is arranging it.

We will not charge you for the month of March if the board hired a new company from March 1st, 2009. In my opinion it would be a wise decision by the board to hire another company as soon as possible in order to get release political dialogue regarding Paul Endres, my staff is tired and we would like to leave the property as soon as possible due to obvious reasons.

I hope that the board will recognize Channels dedication and honor Channels request.
 
Best Regards,

The work conditions for Channel’s employees must have been extremely toxic as Khan was willing to leave early. The board found a new property management company to replace Channel.

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