...Several band leaders and pannists claimed they were “embarrassed” when they went to the banks to cash cheques and were told they had “bounced cheques”.
Forteau said: “People were not following instructions. We instructed the regional chairpersons to issue cheques which were supposed to be cashed (today).
“The money is for pannists playing in the prelims. People went to the banks (Wednesday and Thursday). We are conducting a transaction with one bank and it has to issue money to all the other branches. It is a process that would have taken a little time. People did not get it right.” —Michelle Loubon
read more http://www.trinidadexpress.com/20170105/news/issuing-of-cheques-suspended-until-today
Replies
Pan members can't follow basic instructions or is it the checks were post-dated or was the date I saw on the check 02/12/16 incorrect?
Very confused by the "bounced checks" statement. IF I'm issued a check I can deposit it to my bank account, it may be on hold till it clears or I cash it at the issuers (PT) bank account. If the issuers bank account is depleted or funds are frozen then I can understand they will not be able to cash the check. The way I see it, you should not be issuing checks when you don't have the funds available to cover them.
Forteau said: “People were not following instructions. We instructed the regional chairpersons to issue cheques which were supposed to be cashed (today).
odw: I was very confused when I learnt that the cheques had bounced because, if a cheque is written, then surely the money should be in the bank to cover it. And another more interesting point to note: it is funny that the cheques were suddenly available to be given to players ... where were the cheques hiding and why were they not disbursed earlier? I'll tell you why. It's because the money was never in the account and PT had the cheques to hand so they can distribute them like confetti but nothing was in the account to cover them. It was obvious that any cheques written were going to bounce!!
bugs: When you came on this forum this morning and posted that check and said that they were bouncing -- I did not even believe you. It was too absurd a report for me to accept in FULL FAITH. This is all too tragic to believe. And to see the way in which these KEITH DIAZ cohorts trying to spin the story. Such desperation. This is really a big shame.
I may have to release this client. KD looked so good last night I will have to call him and ask him is he needs some representation. I will use you as a reference.