Everett Called My Loan A Conflict In Front Of The Buyer

I did not answer Everett's email.

I sent it to Priya and to Helen Ward, the employment lawyer she had referred me to. Then I heated cabbage soup and ate it standing at the stove.

Being angry did not excuse skipping dinner. My mother had been firm on that.

At eight the next morning, Helen called.

"Don't sign the severance release. I've requested your leave balance and personnel file."

"Can he keep my unused leave?"

"We'll read the policy and your records. First we get the facts."

I liked her already.

At ten, Priya and I joined a meeting at Red Willow's office. Leon sat at one end of the table. Everett sat beside a speakerphone, under a framed picture of himself accepting an industry award.

Prairie Span's president, Claire Benton, joined by video with her lawyer.

"We have a personal dispute threatening a good transaction," Everett began.

"Which dispute?" Claire asked.

"Danuta failed to disclose that she controls our lender. She was terminated for performance reasons. Now she's holding us hostage."

Priya placed the old disclosure letter on the table. Leon's signature was on the receipt.

"The connection was disclosed before the loan," she said. "The independent review is attached."

Leon pulled it closer.

"I remember this," he said.

Everett cleared his throat.

"That doesn't change the leverage she's using."

"Pay the debt," I said. "Larch will provide the proper releases."

For the first time, he seemed to hear me.

"Then sign the closing certificate."

"It says all listed equipment is here and no loan terms were broken. Neither statement is true."

Claire leaned toward her camera.

"Which equipment?"

Priya asked whether Claire's lawyer had received the corrected notice sent that morning to all parties named in the consent request.

He had. He opened it.

There was a long pause while he read.

Everett reached for a water bottle.

"Those fans were excess capacity," he said. "Their book value was low."

"They were in the assets you promised us," Claire said.

"We can work around twelve used fans."

I unfolded my tissue strip and laid it beside the schedule.

"They're backups for fixed fan failures," I said. "Without them, your response plan depends on rentals being free during harvest. That's when everyone needs them."

"What's replacement cost?" Claire asked.

"Ruth is getting written quotes. I won't guess for a closing statement."

Priya explained Larch's position. It would not give advance consent or certify that there was no default. It had not received payment. Its rights remained in place. Full payment would bring the releases due under the loan.

"So we just pay her off," Everett said.

"With what funds?" Claire asked.

His answer took too long.

Red Willow had only $91,000 available above its next payroll. The merger plan relied on Prairie Span supplying the payoff at closing. Prairie Span had agreed to that funding based on the promised equipment and a truthful closing certificate.

Claire was not willing to fund a false one.

"Our operating plan assumes those backups exist," she said. "Our insurer received the same schedule. Our staff have planned training around it. This isn't just a line we can cross out while signing."

Everett began to explain book value again.

She stopped him.

"I asked what equipment we would receive. Depreciation doesn't answer that."

I looked at the old purchase dates in the margin. Years of use had lowered the figures on a tax return. They had not lowered the need for air when a fixed motor stopped.

"We'll suspend closing while we verify the assets," she said. "Our contract allows that."

Everett looked at Leon.

"You're letting a maintenance employee break a $4.8 million deal."

"Former chief engineer," Leon said. "And you still haven't explained the bonus."

Everett stood.

"It was part of my incentive package."

"Show me the approval."

He promised to send it.

After the meeting, Leon asked Priya for ten minutes. She agreed, with Red Willow's lawyer present.

I waited in the hall. Through the glass, I watched people turn pages without smiling for anyone.

On the wall, the merger banner had begun to sag. Someone had used tape where a proper hook belonged.

When Priya came out, she said the board would hire an outside accountant that afternoon. Everett still controlled daily operations until the directors could meet and vote.

"Can he sell more equipment?" I asked.

"The company has been told to stop. If the records or collateral are at risk, we'll seek a court order."

By evening, Ruth had two written replacement quotes. Twelve suitable units would cost $276,000. Freight, wiring changes, and testing would add $24,000.

Three hundred thousand dollars to restore what Everett had called excess.

I put the quote beside my unsigned severance form.

At nine thirteen, Luis called.

"A truck's at the south gate," he said. "Everett told them to load the control cabinets. And someone just told Mara to wipe an old laptop."