Previous Story
Fund sues Sword for allegedly defective pension software
|
Posted on Apr 04 2012
The NMI Retirement Fund finally filed a lawsuit against Gerhard “Gary” Sword and his company for their alleged defective pension software that has already cost the Fund $406,060.
The Fund sued Sword, Express Electronics, also known as Express Electronics Ltd., and 10 unnamed co-defendants, for breach of contract, and unjust enrichment.
The Fund, through assistant attorney general Christopher M. Timmons, asked the Superior Court to hold all defendants liable for damages, prejudgment interest, and court costs.
Saipan Tribune tried but failed to obtain comments from Sword yesterday.
According to the complaint, Sword and his company, Express Electronics Ltd., failed to deliver on a contract to create a customized pension administration system for the Fund. Sword and his company executed the contract on April 20, 2008.
“The pension software provided is neither integrated nor automated and fails to provide a mechanism to address all benefits managed by the Fund,” said Timmons in the complaint.
The defendants, Timmons said, made no effort to present an implementation plan to address these defects, and have taken no steps to correct them.
In January 2012, two Fund members, Joaquin Q. Atalig and Jesus I. Taisague, sued Sword and his company over the same alleged non-functioning software pension.
