ISME claims bank sought directors' resignation letter as loan collatoral

Discussion in 'Askaboutbusiness' started by Branz, Dec 11, 2016.

  1. Branz

    Branz Frequent Poster


    "...ISME, which represents small to medium companies, has written a letter to Minister for Finance Michael Noonan raising concerns over a bank allegedly seeking signed, undated letters of resignation as collateral for a business loan..."

    Just wonder what the lender strategy is here, if the suggestion is true.
    Thanks as always.