Chapter 9 - MARGARET’S DEBTWhy was Margaret so desperate now?
Because Northshore was no longer merely valuable.
It was under offer.
A pension-backed infrastructure fund wanted to buy several waterfront parcels for $286 million.
The sale required approval from both major blocks.
Daniel was prepared to approve.
I wasn’t.
Not because I hated the deal.
Because environmental liabilities had not been fully disclosed.
My lawyer found contamination risks.
I wanted independent review.
Margaret needed the sale immediately.
Why?
She had guaranteed debt for Hartwell Hospitality, a family company she quietly controlled.
Bad hotel acquisitions.
Pandemic-era refinancing.
Interest-rate pressure.
Total personal exposure:
$41 million.
If Northshore sold, Daniel’s distribution could cover Hartwell losses.
If our finances were combined, mine could too.
Margaret had spent years telling Daniel Northshore was “family property.”
He believed using proceeds for Hartwell businesses was normal.
May you like
It wasn’t.
Mercer money had been subsidizing Hartwell identity for decades.
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