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Greenclose v National Westminster Bank plc: Difference between revisions
Greenclose v National Westminster Bank plc (view source)
Revision as of 10:04, 15 August 2016
, 15 August 2016→NatWest's errors
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Now let’s be clear here: this is fair enough. This was fair enough: NatWest had priced its lending operation so as to avoid this risk. It would be bad business for a bank not to exercise a valuable option. But all the same, it still managed to look like a big, bad bank. | Now let’s be clear here: this is fair enough. This was fair enough: NatWest had priced its lending operation so as to avoid this risk. It would be bad business for a bank not to exercise a valuable option. But all the same, it still managed to look like a big, bad bank. | ||
===NatWest's errors=== | |||
Schoolboy error no.1 was to have notice deadline which expired during the Christmas holiday period, when Greenclose was highly likely to be out of the office. But that’s as may be. In fairness, it's not outlandish to expect a hotel to be open in the Christmas holidays. But generally, don't have your options expire between Christmas and New Year. | Schoolboy error no.1 was to have notice deadline which expired during the Christmas holiday period, when Greenclose was highly likely to be out of the office. But that’s as may be. In fairness, it's not outlandish to expect a hotel to be open in the Christmas holidays. But generally, don't have your options expire between Christmas and New Year. | ||
{{Box|'''Learning Number 1''': Don’t set options that expire in when everyone's likely to be out of the office.}} | {{Box|'''Learning Number 1''': Don’t set options that expire in when everyone's likely to be out of the office.}} | ||