Home Page Compli-Forum Accounts Rules Banking Facilities Reply To: Banking Facilities

#8335
Darren Whelan
  • 35

Hi Jon,

I agree with Geoff. More questions need to be asked here.

I have heard recently that banks are doing this when there is no activity but that said, £400k – why is there no urgency in getting this money back?

I’m assuming we’ve carried out due diligence here and there’s no insolvency issues? Any winding up petitions against the client? Banks usually remove facilities in this situation.

What evidence do we have from the client?

Have we spoken to Ethics?

Just my initial thoughts.

It doesn’t smell right.