Blockbuster' application for Bbnkruptcy has been turned down after the video and DVD hire company could not sufficiently prove that it was indeed the company it claimed to be.
The US dept of Commerce has strict guidlines in place for any company seeking to file for bankruptcy to ensure that any banking or financial institution can clearly demonstrate that the correct company has been made bankrupt. Blockbuster's application was not accompanied by threee seperate sources of utility bills all in the companies name. Jim Keyes, Blockbuster's chief executive explained that "the water rates for the company has, since 1993, been addressed to Viacom, but we never botherec to get the address changed. It's still the same company, sort of, well it was, the guys at the bank are just being unduly anal about the whole thing".
It is also understood that the required tax returns that were handed in with the application were for a previous year and are thus out of date. A spokeman for the First Washington Bank reasoned that "it is obvious that this must be the same company, they look the same and if it were up to me I'd wave them through, but we have these rules for a reason, I'd love to turn a blind eye but I can't, company policy."
Blockbuster Application for Bankruptcy Pending Further Proof of ID
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Blockbuster' application for Bbnkruptcy has been turned down after the video and DVD hire company could not sufficiently prove that it was indeed the company it claimed to be.Posted 5 years ago #
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