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08-09-2020, 11:07 PM #1
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Par's attorneys told the judge that Par's default rate on a "cash-on-cash" basis was indeed 1.2%. This is going to be one heck of a show. If the basis for the lawsuit and asset freeze was the alleged misrepresentation of the default rate and that turns out to be the actual default rate, (under that methodology anyway), then....
Last edited by UrsulaHaun; 08-09-2020 at 11:15 PM.
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08-10-2020, 12:29 AM #2
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08-10-2020, 07:58 AM #3
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"And the merchant default rates are excellent. Put simply, the merchant cash over cash default exposure is 1.2%. That means that of all merchants receiving $100 in cash from CBSG, only $1.20 (1.2%) is defaulted on."
That also means that their default rate over the RTR is less than 1% since they are using the funded amount. Their math doesn't make sense. With $300M in litigation. I call bull **** and anyone that believes that is delusional.
Not to mention they only included one paragraph about their default rates and no mention whatsoever about the insurance they presumably offered.Last edited by SmartestGuyInTheRoom; 08-10-2020 at 09:16 AM.
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08-10-2020, 11:01 AM #4
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08-10-2020, 09:31 AM #5
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08-10-2020, 10:14 AM #6
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08-10-2020, 10:29 AM #7
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Actually if they kept 99% of their cash, monthly, with the daily debits and renewals, why can’t this be true?
Basically it means they’re not loosing cash, which might be true no?
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08-10-2020, 01:18 PM #8
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