The Value of ONE, Boston Technologies Directors' Dispute Resolved in Court
by
Adil Siddiqui
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 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 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 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 in emerging market currency pairs.
Interactive Brokers Expands Offerings with Daily Options on French Stocks
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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