Chapter 11 - The Board Turns
Three directors resigned.
Two requested immunity.
One flew to Switzerland.
The rest suddenly discovered consciences.
I called an emergency shareholder meeting.
Marcus appeared remotely.
“You’re destroying this company.”
“No.”
I looked into the camera.
“I’m removing the people who were destroying it.”
The board voted to suspend Adrian.
Marcus lost his chairmanship pending investigation.
For six hours, I believed we had won.
Then the banks called.
Solmere had violated lending covenants.
Unknown guarantees totaling $640 million had been issued against company assets.
If lenders accelerated repayment, the company could collapse.
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Marcus had left a bomb inside the balance sheet.
And it was already ticking.
