Shopping & Style1 min ago
Negligent Bank?
Hi,
I posted a few days ago about a director who had been voted off the board withdrawing unauthorised funds. The bank originally apologised then went back on themselves.
We warned the bank some weeks ago that we were concerned that this individual would withdraw funds. Nothing was done. A letter was sent to the Bank after a meeting where the resolution to 1. Remove that person as a director and 2. That person was no longer an authorised signatory but it was ignored for 48 hours.
Does anyone know where we stand regarding the Bank and the ex-director?
Thank you.
I posted a few days ago about a director who had been voted off the board withdrawing unauthorised funds. The bank originally apologised then went back on themselves.
We warned the bank some weeks ago that we were concerned that this individual would withdraw funds. Nothing was done. A letter was sent to the Bank after a meeting where the resolution to 1. Remove that person as a director and 2. That person was no longer an authorised signatory but it was ignored for 48 hours.
Does anyone know where we stand regarding the Bank and the ex-director?
Thank you.
Answers
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The ex-Director is in the wrong. He may still be legally entitled to the money though - 'as far as I'm concerned' is not the criteria by which that is judged.
The bank not necessarily. The bank is entitled to require a fresh mandate to be completed and to have time to process it. It's not clear even now whether that has been done.
The previous mandate will have set out the requirements for changing it - what signatures are needed to change the mandate in particular
The bank not necessarily. The bank is entitled to require a fresh mandate to be completed and to have time to process it. It's not clear even now whether that has been done.
The previous mandate will have set out the requirements for changing it - what signatures are needed to change the mandate in particular
Only 1 answer
