They got really screwed by their first banking partner. This is when having a good lawyer would have helped.<p>The correct course of action would have been to politely tell the bank that they would not free the bank from their duties under the contract but would welcome any new introductions. Under their duty to limit their damages, the startup would do everything possible to find a new bank partner, and if they did the original bank partner would be free from their obligations without paying any damages.<p>This way you get the bank to help you but still be liable under the contract if things do not work out.<p>Of course nothing here is legal advice, every situation is different, so do consult a lawyer for your own situation.