Page 19 - EATS Case ( B)

This turned out to be the first and most serious in a

series of disasters about to overtake Litan.

By mid-April Litan had phoned Jim in a state of some

distress. He had been told by the Edinburgh Chamber of

Commerce that if he were awarded some funding which

was likely, he would need to provide a bank account

number for Euro-ATS Ltd. However, after getting in touch

with The Royal Bank of Scotland he was informed by

them that they could not open an account for the

company as too great a proportion of the company was

owned by a non-national director.

Jim suggested that Litan inform the Russian scientists of

the situation and enquire if they, his co-directors, would

accept a reduction in their shareholding perhaps, in

exchange for some other consideration? Unfortunately,

as far as Jim was concerned he was not in a position to

comment further as he was not privy to the full

information on the company and any such action would

be inappropriate at best.

Having e-mailed the Russians events overtook Litan when

he was informed that he would be deported within two

weeks.