Community Bank has a loan receivable from IMS Chocolates. IMS is 6 months late in making payments to the bank, and Jan French, a Community Bank vice president, is assisting IMS to restructure its debt. French learns that IMS is depending on landing a contract with Snicker Foods, another Community Bank client. French also serves as Snicker Foods’ loan officer at the bank. In this capacity, French is aware that Snicker is considering bankruptcy. No one else outside Snicker Foods knows this. French has been a great help to IMS and IMS’s owner is counting on French’s expertise in loan workouts to advise the company through this difficult process. To help the bank collect on this large loan, French has a strong motivation to alert IMS of Snicker’s financial difficulties.
Apply the ethical judgment framework outlined in the chapter to help Jan French plan her next action. (p. 239)
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