The Value of ONE, Boston Technologies Directors' Dispute Resolved in Court
- Directors of a leading technology provider firm in the margin FX business have been disputing dissolution in court which determined today that one share should be transferred from one to the other.
The Court of Chancery of the state of Delaware issued a notification outlining details of a case that was hanging on one share.
Two directors of Boston Technologies, a US-based service and Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term to brokerage firms operating in the margin FX business have been engaged in a court battle that threatened to bring the two stake holders' relationship to a deadlock. After three months and twenty one days since the claim was filed, the court’s decision was hanging on the transfer of one share.
The court's memorandum opinion, a 43 page document, outlines the full details of the case including information about how the directors formed the company and their consequent business arrangement. It also states claims and counter claims made by the petitioner and respondent.
George Popescu and Kevin Millien were the sole directors of Boston Technologies, formed in 2009. The firm had a revenue of $2 million which increased to $14 million by 2012.
Boston Technologies was one of the pioneers behind the bridging technology that connected the popular MetaTrader 4 platform to the interbank market, thus enabling retail traders to pursue automated and algorithmic trading through expert advisors, a privilege common to institutional and professional traders.
Mr. Millien, the petitioner whose attorneys include; Francis G.X. Pileggi, Esquire and Jill Agro, Esquire of Eckert Seamans Cherin & Mellott, LLC, Wilmington, Delaware, filed a complaint against the petitioner requesting the court to place a custodian to resolve a deadlock pursuant to 8 Del. C. § 226. Consequently, the respondent, Mr. Popescu put forward four counterclaims.
Mr. Millien left Boston Technologies in 2013, prior to his departure he was heading up the firm's UK operation. Both directors were 50% equal shareholders in the firm, and due to differences between the two, he wanted a custodian had to be appointed in order for the firm to be managed efficiently.
Mr. Popescu's counterclaims were taken onboard by the court and Mr. Millien was requested to transfer one share to Mr. Popescu, thus giving him majority shareholding and voting rights.
Boston Technologies has grown significantly through its various international operations in Europe and Asia. It was one of the first technology providers to offer Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term in emerging market currency pairs.
The Court of Chancery of the state of Delaware issued a notification outlining details of a case that was hanging on one share.
Two directors of Boston Technologies, a US-based service and Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term to brokerage firms operating in the margin FX business have been engaged in a court battle that threatened to bring the two stake holders' relationship to a deadlock. After three months and twenty one days since the claim was filed, the court’s decision was hanging on the transfer of one share.
The court's memorandum opinion, a 43 page document, outlines the full details of the case including information about how the directors formed the company and their consequent business arrangement. It also states claims and counter claims made by the petitioner and respondent.
George Popescu and Kevin Millien were the sole directors of Boston Technologies, formed in 2009. The firm had a revenue of $2 million which increased to $14 million by 2012.
Boston Technologies was one of the pioneers behind the bridging technology that connected the popular MetaTrader 4 platform to the interbank market, thus enabling retail traders to pursue automated and algorithmic trading through expert advisors, a privilege common to institutional and professional traders.
Mr. Millien, the petitioner whose attorneys include; Francis G.X. Pileggi, Esquire and Jill Agro, Esquire of Eckert Seamans Cherin & Mellott, LLC, Wilmington, Delaware, filed a complaint against the petitioner requesting the court to place a custodian to resolve a deadlock pursuant to 8 Del. C. § 226. Consequently, the respondent, Mr. Popescu put forward four counterclaims.
Mr. Millien left Boston Technologies in 2013, prior to his departure he was heading up the firm's UK operation. Both directors were 50% equal shareholders in the firm, and due to differences between the two, he wanted a custodian had to be appointed in order for the firm to be managed efficiently.
Mr. Popescu's counterclaims were taken onboard by the court and Mr. Millien was requested to transfer one share to Mr. Popescu, thus giving him majority shareholding and voting rights.
Boston Technologies has grown significantly through its various international operations in Europe and Asia. It was one of the first technology providers to offer Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term in emerging market currency pairs.