How a Billionaire Lost His Entire Empire by Leaving His Family Behind
“Section nine, paragraph four.”
“It governs corporate integrity.”
I looked at the thick stack of papers.
“What does it say?” I asked.
“If any member of the board, including the Chief Executive, engages in criminal conduct that threatens the trust’s reputation, the trust has the right to liquidate its entire holding in the company,” Margaret explained.
“That is sixty percent of the outstanding shares.”
“If we liquidate, the stock price will collapse.”
“The Holloway Empire will cease to exist by the end of the business week.”
My throat felt dry.
“He would lose everything,” I said.
“Everything his father built.”
“Everything he stole from you,” Margaret corrected.
She leaned closer, placing her hand on the edge of my bed.
“But to activate this clause, the executor cannot act alone.”
“It requires the consent of the primary beneficiary’s legal representative.”
“Which is you, as the mother of his heirs.”
I looked at the documents.
The weight of the decision settled on my shoulders.
“He will fight this with everything he has,” I said.
“He will deny Vanessa acted on his orders.”