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To: Terry Maloney who wrote (263300)	10/9/2003 8:17:01 PM
From: orkrious	Read Replies (3) \| Respond to of 436258

my brother's company's (he's the CFO) bank decided it had had enough and swept $1.2 mil of the $1.5 mil balance out the company's bank account last night. they had missed their oct debt payment. the company was otherwise current but it had been late several payments in a row. the company had been trying to restructure the amortization schedule but the bank wouldn't budge. this is a viable software company with a 8.5 mil backlog for next year. their projected expenses next year are 11 mil and the deficit should be made up by new business. this is a bank that still is owed $9 mil by my brother's company. unless some miracle happens in the next couple of days, the bank is going to shut them down and write off most of the $9 mil. it's very strange that a bank would do this when their client is a viable business and isn't asking for more money. the restructuring negotiations have been going on for more than a year and the bank is sick of it, but this seems extreme. i'm sure it won't be long before we hear about even stranger things.