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Chapter 9 - The Company Could Survive Only If the Family Changed

The restructuring plan began with an ugly number.

Prescott Global needed one hundred and forty million dollars of liquidity over the next twelve months.

Without it, the company would breach lending covenants, delay vendor payments, and potentially trigger cross-defaults across subsidiaries.

Helena explained the problem to Claire in plain language.

“Prescott owns valuable businesses,” she said. “The crisis is not that everything is worthless. The crisis is that the company borrowed as though cash would always arrive before obligations did.”

“Can it survive?”

“Yes.”

“Can Aaron remain CEO?”

Helena paused.

“That is a governance question, not a math question.”

Claire understood.

Northline’s proposed restructuring involved selling two non-core divisions, suspending dividends to family shareholders, replacing certain insider contracts, and raising fresh capital.

Diane hated every part of it.

She called Claire directly.

“You are dismantling a company your husband’s family spent three generations building.”

Claire was at Marblehead, barefoot, reviewing a cash-flow schedule.

“I’m not on the board.”

“Do not insult me. Northline listens to you.”

“Northline listens to contracts.”

“You could stop this.”

“Why would I?”

“Because Aaron will inherit what is left.”

Claire closed the spreadsheet.

“That sentence is the problem, Diane.”

“What is that supposed to mean?”

“You keep talking about Prescott Global like it’s a dining table. Something the family passes down.”

“It is our legacy.”

“It is also five hundred employees, thousands of vendors, lenders, pension obligations, customers, and minority owners.”

Diane’s voice sharpened.

“You sound exactly like Arthur.”

“Thank you.”

“That was not a compliment.”

“I know.”

For once, saying it felt wonderful.

Diane lowered her voice.

“Your grandfather resented us.”

“My grandfather financed you.”

“He profited.”

“Yes. That is generally how lending works.”

“You think you are better than us because you hide your money behind trusts.”

Claire almost ended the call.

Instead she said, “No. I think hiding my money and hiding someone else’s consent are different things.”

Silence.

Then Diane hung up.

The next day, Northline invited Claire to attend the restructuring committee as the Holloway observer.

She walked into Prescott Global headquarters for the first time since delivering Aaron’s suitcases.

The lobby became quiet.

Claire hated that.

She had not come for theater.

Employees watched from reception desks and glass corridors. Some looked curious. Others worried.

At the elevator, the receptionist from that first morning approached.

“Mrs. Prescott?”

“Claire is fine.”

The woman hesitated.

“My husband works in shipping. People are scared.”

Claire’s chest tightened.

“I know.”

“Is the company closing?”

“I don’t know enough to promise anything. But the current plan is designed to keep it operating.”

The receptionist nodded.

Upstairs, Aaron was already in the boardroom, wearing a navy suit and no wedding ring. Neither mentioned it.

The committee meeting lasted five hours.

Executives presented forecasts.

Independent directors questioned assumptions.

A restructuring adviser challenged Aaron’s plan to retain a European division he called “strategic.”

“It loses eighteen million dollars a year,” the adviser said.

“It opens future markets.”

“Future does not pay December payroll.”

Aaron bristled.

Claire watched the old instinct rise in him: defend, dominate, make certainty sound like leadership.

Then he stopped.

“What price could we get?”

The adviser answered.

Aaron wrote it down.

It was a small moment.

Claire saw how much it cost him.

At lunch, he found her alone near the windows.

“You always hated the European expansion.”

“I hated the assumptions.”

He gave her a tired smile.

“Still correcting me.”

“Someone should.”

He looked out at Boston.

“I’m probably going to lose the CEO job.”

Claire said nothing.

“I used to think that would be the worst thing that could happen to me.”

“And now?”

He looked at her.

“Now I know there are worse things.”

She understood what he meant.

She refused to comfort him with it.

When the meeting resumed, the committee reached preliminary agreement.

Sell Europe.

Sell a luxury hospitality asset.

End Crown Harbor-related contracts.

Freeze family distributions.

Create an employee-retention pool before any restructuring fees were paid.

The last provision came from the independent directors, not Claire.

She was glad.

At four, board counsel entered with new evidence.

Lionel Price had been questioned.

He admitted knowing Crown Harbor benefited Diane.

He claimed Diane originated the plan after her husband’s death, arguing the family deserved private compensation for acquisitions they “created.”

Aaron went pale.

“Did I approve any of it?”

Counsel looked at him.

“No evidence currently shows that you approved the trust structure.”

Aaron exhaled.

Then counsel continued.

“But evidence shows you overrode compliance objections on three acquisitions connected to Crown Harbor.”

The relief vanished.

Claire watched him absorb the distinction.

Not mastermind.

Not innocent.

That was the harder truth.

After the meeting, Claire left through a side hallway to avoid reporters.

Nathan waited near the garage.

He handed her a coffee.

“No sugar.”

She smiled.

“You’re becoming predictable.”

“Terrible professional weakness.”

They walked toward her car.

“Any news on the divorce?” she asked.

“Aaron accepted most of the financial framework.”

“Most?”

“He wants the Boston house.”

“He can have it.”

“He also wants a mutual confidentiality provision.”

“No.”

Nathan nodded as if he had expected that.

“I told Meredith.”

“I won’t publish his private life. But I’m not signing something that prevents me from cooperating with regulators or defending myself if his family attacks me.”

“Exactly.”

Claire stopped beside the car.

Nathan looked at her.

“You did well today.”

She raised an eyebrow.

“That sounded dangerously like praise.”

“It was an observation.”

“Better.”

His smile lingered.

Then his phone rang.

He checked the screen.

“Helena.”

Claire’s stomach tightened.

Nathan answered.

He listened without speaking.

Then his face changed.

“What happened?”

He ended the call.

“Someone accessed Northline’s secure data room using a Prescott executive credential.”

“When?”

“Twenty minutes ago.”

“Whose credential?”

Nathan looked at her.

“Jasmine’s.”

Claire stared at him.

May you like

Jasmine had resigned days earlier.

Her access should not have existed at all.

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