ADI Says Note Paid Off to ‘Unscrupulous Competitor’
YOUNGSTOWN, Ohio – Aerodynamics Inc., the carrier that is seeking to provide daily flights from Youngstown-Warren Regional Airport and Chicago O’Hare international Airport, said it has paid off a promissory note that Via Airlines Inc. claimed it had defaulted on.
In addition, in a filing dated Dec. 30, ADI characterized Via’s Dec. 7 objection to its application for a certificate permitting the service as a “misguided attempt by a competitor … to retaliate” against ADI for having obtained a temporary restraining order and preliminary injunction against Via Airlines in a federal lawsuit.
ADI, which has offices in Beachwood, Michigan and Georgia, is seeking a certificate of public service to permit it to offer the flights at the airport in Vienna Township. In Late November the U.S. Department of Transportation tentatively recommended issuance of the certificate following a comment and review period.
During that period, Via Airlines and James Paquette of Warrenton, Va., filed an objection claiming that ADI Acquisition Co. LLC, which was formed to purchase ADI’s assets from former owner Scott Beale, owed Paquette $406,053.53 and had failed to make a single payment under the terms of the promissory note dated July 14.
ADI called the objection “moot” because it has paid Paquette and Via in full. According to a Dec. 29 letter sent to regulators, ADI Acquisition was wire transferring in excess of $310,000 to Paquette and Via, “a sum sufficient to pay the full remaining principal balance, all accrued interest and all late fees” on the promissory note.
ADI, in its response, also noted Paquette failed to mention the $300,000 payment made July 15 to Paquette and that ADI did not receive notice about the acceleration of the note until Dec. 3, when it received a letter from Via and Paquette announcing the acceleration. The objection was filed the following day.
ADI further changed that Paquette and Via’s objection should be recognized as “a futile attempt by an unscrupulous competitor” retaliating against ADI for obtaining relief against Via and others for “breach of contract and unlawful misappropriation” of trade secrets in a federal lawsuit, resulting in the TRO and preliminary injunction against Via and other defendants.
In granting the TRO, the judge in the case said ADI “can likely demonstrate” that Via “acquired and used, or threatened to acquire and use,” some of all confidential or trade-secret data possessed by ADI “though improper means.”
The objection also pointed out that the note was between Paquette and ADI Acquisition, which the filing claims would not impact ADI’s financial fitness threshold, even if the note remained outstanding.
Copyright 2022 The Business Journal, Youngstown, Ohio.