Programmer claims Dublin company excluded him from joint venture

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 98%

Business News News

Business Business Latest News,Business Business Headlines

Colorado-based software designer Neal Cyr says his shareholding in PasRM is now worthless

Mr Cyr says he designed a programme in 2016 to provide airlines with a means to process data to improve revenue and prices for flight routes. He says it means directors of airline companies can readily ascertain which routes are profitable and where there is room for improvement.

Mr Cyr says there was no question of Planitas taking over PasRM’s business or otherwise appropriating its assets or customers or that they would be treated as a single entity.Mr Cyr says he did not query certain arrangements made with one of the two airlines because he had “full trust and confidence” in Planitas, in Mr Mooney and others in the company as well as their solicitor.

Mr Cyr believed this was not in line with the original agreement and “had the effect of reducing the value of the company to nought”. The proceedings are against Planitas, Mr Mooney, fellow Planitas shareholder Philip Connell, and Planitas secretary Brendan Delaney, who Mr Cyr says was nominated to hold the PasRM shareholding on Planitas’s behalf.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Engage XR to delist from Dublin market in new blow to exchangeMove is latest blow to Dublin market
Source: IrishTimes - 🏆 3. / 98 Read more »