ISME claims bank sought directors' resignation letter as loan collatoral

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

  1. Branz

    Branz Frequent Poster

    Posts:
    845
    http://www.independent.ie/business/...ation-letter-as-loan-collatoral-35283905.html

    "...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.