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Bullboard - Stock Discussion Forum Big Banc Split Corp T.BNK

Alternate Symbol(s):  T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date... see more

TSX:BNK - Post Discussion

Big Banc Split Corp > What if Bankers Actually Owes the Money?
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Post by mydogchach on Nov 22, 2015 10:48am

What if Bankers Actually Owes the Money?

There seems to be  a lot of half truths and misinformation regarding Albania - communist mafia, extortian, corruption, contract killings, banaa republic. 
I think just a bit of honest and objective DD and  research will show that Albania, while still a young democracy with some struggles, has made real prgress in progressive and legitimate government and law making.
15 year old stories on Prime Minister Edi Rami, acquited on corruption in 2001?
He's since received international awards for 'Eradication of Poverty' in 2002, voted 'World Mayor' in  2004 and Time magazine 'European Heroes' 2005 - do your own objective research. (hello Prime Ministers Chretien and Mulroney)
No - it just isn't the Congo as some have described, it's working hard to encourage foreign investment, is a member of NATO, the IMF, WTO - and an EU candidate (who criteria include a stable economy, human rights and a legitmate law making government)

Albania is a socila democracy (just like Alberta) and based on some of the BB posts, I'm not sure some of you even know Albania is. (It has Greece as a neighbor to the south - and Italy is just a boat ride to the west by the way).
Check out Bankers own website for an informative snap shot of the country and government.

The tax system has 'a cost recovery pool represents deductions for income taxes in Albania'.
, 'subject to ongoing routine audits.' The dispute involves the 2011 audit which showed $300 million, reduced by the government to $250 million - as expenses that shouldn't have been included. It's just a tax dispute - and it happens everywhere in the world, including Canada.

SO - with everything said - and just for arguments sake - what if the government has a legitmate claim -  and the possibility that maybe, just maybe - Bankers, knowingly or not, used ineligble expenses and DOES owe the money?

Forget the other stuff for a minute, based on this possibility - what would the BB discussion regarding Bankers future?

Because I'm having trouble in my head rationalizing why a government would jeoporadize their candidate standing with the EU, their legitamicy with the world - both goverments and business - and especially future foreign investment nvestment by bringing some illegal, corrupt, extortation action against it's biggest foreign investor for a lousy $50 million tax dispute?
Comment by ShortAttack on Nov 22, 2015 11:41am
This post has been removed in accordance with Community Policy
Comment by braincloud on Nov 22, 2015 12:33pm
They are seeking PROFIT TAX! under the petroleum agreement PROFIT TAX is only applied after the recovery of COSTS! Read the annual report and the petroleum agreement before you make assertions like you know what you are talking about please!
Comment by Bankorruptsee on Nov 22, 2015 2:49pm
Good post also
Comment by Bankorruptsee on Nov 22, 2015 12:35pm
First of all, you didn't take the time to Zpell halph the stuff you wrote. Your posting seems to indicate you are interested in defending ALBANIA regardless of the facts. The truth is, a 22% haircut is NOT the result of a lack of faith in Bankers.  What happened is A LACK OF FAITH IN ALBANIA!!! If Bankers did owe the money, then Bankers probably would have lost a nickel or a dime. I ...more  
Comment by mydogchach on Nov 22, 2015 1:03pm
my grandpa said that if you can't say anything nice about a friggin moron - then don't say nothin' at all instead of more of your useless rants - how about you try and answer the original question. Do you have any idea why you have 200 ignores? oh - and phuk you
Comment by Bankorruptsee on Nov 22, 2015 1:33pm
kma
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