BlitzDesk recently reported that the League was focused on transparency from the Bank of Altdorf. Today, a report was filed in the 7th district court by the League to begin bankruptcy proceedings against the Bank of Altdorf.
“We’re said to say that the Bank has resort to fraud,” commented Preach “instead of deciding to do the right thing.”
The Bank will continue to operate for the foreseeable future, but will no longer be eligible to pay interest on loans and deposits.
“It’s a blow to teams who counted on them,” said Preach in sigh. “We’re looking for other solutions for our teams to use, but for now they will have to proceed with out relying on the Bank for interest.”
The Bank is reported to have enough funds to pay teams their currently owed interest.