RE:ENCOURAGING logicandinertia, thanks for your insight.
should be noted that SIR CORP management has not come out of this looking very good IMO...
Putting it midly... agreed.
If SIR CORP continues to hold back accrued payments to ROYALTY unit holders,
1) It is my understanding that some SIR restaurants are open and food is being delivered through delivery services (ubereats,foodora). Sales are being generated as we speak. Off course when the lockdown ends more sales will be generated but the point is, as of now and throughout last year, sales are being made.
2) The royalty fund is entitled to 6% of SIR sales, profit or loss from SIR restaurants are not relevant, 6% of the pooled revenue from SIR has to be paid to the royalty income fund.
Seems to me SIR corp has no legal basis to hold back accrued payments to ROYALTY unit holders unless no sales are being generated.
to be continued......
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