Quote:
Originally Posted by Paranoid Android
Quebec firm asks for $6,000,000 from American General Contractor or else it will not deliver the World Trade Centre spire it was hired to build.
The firm has 3 separate projects with this contractor. It is refusing to deliver the spire because it has not been paid for another project, signed between the two companies.
http://news.nationalpost.com/2012/10...age-in-quebec/
"Spire held hostage."
xD |
I actually love this. It's hilarious in a way that the average person can understand.
You don't see it much for actual output production, but often you see companies "off-set" payables against receivables owed if they feel their counterparty is in financial distress or isn't providing services offered. It's one of the reasons asset-backed lenders are wary about customer concentration limits and relationships with both payables/receivables