Commentary

45 Form of letter

BANKING vol 4(1)
| Commentary

45 Form of letter

| Commentary

45 Form of letter

A letter of responsibility is set out below in a form that would be very advantageous to the Bank.

‘In accordance with the terms of this company’s board minute dated ... of which a certified copy is attached, we confirm that we are aware of all facilities that are presently made available by the various branches of your bank, subsidiary and associate banks, to our subsidiary companies, and you have our assurance that we would not permit any subsidiary company to enter into liquidation, whether voluntary or compulsory, or enter into any arrangement with its creditors without

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