jfmezei
Premium
join:2007-01-03
Beaconsfield, QC
 ·ELECTRONICBOX
| reply to sbrook
Re: CIA in trouble with Bell!
I am not sure what to make of this.
Cybersurf's financials have, for some time, indicated that they were not profitable yet. But I am not sure that this would indicate that they were unable to pay Bell's bills.
Making this public via the CBC will make it harder for Bell to pull the plug and put some pressure on Bell to settle those accounts.
One would need to get some insight on the scale of the amount in areers, as well as the reason for it. However, the proper procedure is to pay those buills and then contest them. Contesting them and not paying them in full is NOT proper procedure.
In the case of ISTOP, eventually, Bell Canada asked ISTOP to make a deposit of $300k and Ralph went to the CRTC. The CRTC agreed with Bell's demand since ISTOP was still not paying in full and was thus a credit risk and Bell was within its rights to demand a deposit.
So this is a story to follow. Not sure how it will unfold. But I don't think it is something to be immediate. Contrary to ISTOP, when Bell pulls the plug on Cybersurf, a lot of its operations will continue (cable, and DSL in Telus land). Not sure how they will handle DSL customers in Bell territory. (whether they will hand them over to another DSL ISP, of whether they would try to move them to cable etc.
ISTOP had also been legally structured into a numbered company that had few assets, so when Bell pulled the plug, there wasn't much in terms of assets to seize. But in the case of Cybersurf, if Bell gets nasty, it could force Cybersurf into receivership to seize whatever assets Cybersurf might have with its other operations.
But I don't think it will come to that. If Bell increases the pressure, Cybersurf might end up paying up. This will cause its cash reserves to go down faster than anticipated, but I don't think it would shut it down right away. |
|
Bellundo
@teksavvy.com
| Bell will put a lien against all of cybersurf's assets and any future profits they may make. Of course we know they'll never make any as every Canadian company quote "cooks the books" but never gets caught. Canadian is the most dishonest and corrupt country in the world. |
|
HeadSpinning
join:2005-05-29
Windsor, ON
| said by Bellundo :
Bell will put a lien against all of cybersurf's assets and any future profits they may make. Of course we know they'll never make any as every Canadian company quote "cooks the books" but never gets caught. Canadian is the most dishonest and corrupt country in the world.
That isn't how Bell handles these situations. They will serve notice to disconnect, and unless they pay up, or get a court order to block disconnection, they will pull the plug. |
|
anon149
@vaxination.ca
| >That isn't how Bell handles these situations. They will serve
>notice to disconnect, and unless they pay up, or get a court
>order to block disconnection, they will pull the plug.
If company X owes Bell 2 million bucks in unpaid bills, Bell will not only disconnect, but will also want to take whatever steps are possible to recover as much of the 2 million it is owed as possible.
If X has no assets and no profits, Bell may decide that it is not worth paying its lawyers to try to recover pennies on the dollar. But if X has money/assets, Bell may see possibility to recover more than the cost of recovery and thus reduce the amount it needs to write off. |
|
HeadSpinning
join:2005-05-29
Windsor, ON | Well X likely has no assets or future profits, so Bell will just yank the plug and cut their losses.
The customer base is of no value to Bell. |
|
elwoodblues
Elwood Blues
join:2006-08-30
Toronto, ON
| reply to Bellundo
said by Bellundo :
Bell will put a lien against all of cybersurf's assets and any future profits they may make. Of course we know they'll never make any as every Canadian company quote "cooks the books" but never gets caught. Canadian is the most dishonest and corrupt country in the world.
I'm sorry, but where did the Subprime mess emerge from? Or how about the Asset Backed Commercial Paper mess? |
|
