Page 133 - A Life - my Live - my path

My career – Management & Services – HI LLC

Throughout this transition period, the trustee allowed the
business to continue as normal. In practice, clients suffered
no consequences from the change that was taking place.
The investor was IT Spin Off 109 . The boss had also
explained to me his plan to buy out the bankrupt company
and continue to develop HI-System, but that he didn't know
how to go ahead without me. After a period of reflection, and
bearing in mind that I had to work for a living, I told him my
position: I agreed to join the new project under the following
conditions:

• He had to rehire the 3 consultants I had recruited and
trained at HI-System.
• He had to pay the open invoices of partners like Oracle
and Business Objects, who had always been very good to
me, given that we would have to continue working with
them.
• That I could not accept a minority shareholding in one of
his companies.
• That I preferred to create a new company in which
I would hold 100% of the shares.
• That we would sign an exclusive worldwide distribution
agreement.

He accepted my conditions, pointing out that his
profitability was essentially based on revenues from
maintenance and support contracts already invoiced
annually to existing customers. This amounted to some
€300,000.

109 Whose main shareholder is HEMBERG Michel
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