The bank is a natural course of action
If Pips is a debt free organisation, then, in debt or not, the most
natural course of action to take in the event of severe problems
is to involve the bank.
Many people - many members, may not understand this, but
anyone with experience of managing a limited company knows
this - it is customary to involve the bank when you want to
re-organise, especially finance - and most especially in this
case because of the way international banks have been treating
Pips in respect of paying members.
Think about it - doesn't that make sense?
Personally, I think there's more to this than meets the eye - I am
thinking that BM has been strongly advised to do precisely what he
is doing right now - AND, that a plan has been put together with
the help of others.
Re: The bank is a natural course of action
Quote:
Originally Posted by callum
If Pips is a debt free organisation, then, in debt or not, the most
natural course of action to take in the event of severe problems
is to involve the bank.
Many people - many members, may not understand this, but
anyone with experience of managing a limited company knows
this - it is customary to involve the bank when you want to
re-organise, especially finance - and most especially in this
case because of the way international banks have been treating
Pips in respect of paying members.
Think about it - doesn't that make sense?
Personally, I think there's more to this than meets the eye - I am
thinking that BM has been strongly advised to do precisely what he
is doing right now - AND, that a plan has been put together with
the help of others.
Although I respect your point of view, I don't agree with you since PIPS is not suppose to have debts(except to the members) so banks are involved because of fraud problems and because of management putting their hands in the sand for too long regarding transparency in the business world.