Chapter 4 - THE BOARD MEETINGCharlotte attended the board meeting the next morning.
Not as a director.
As a beneficiary with information rights under the trust.
That distinction mattered.
Victor looked furious when she entered with independent trust counsel.
Sebastian sat at the head of the table.
Margaret’s father, William Bellamy, joined by video.
The proposed restructuring sounded sophisticated.
Hotel assets transferred into a new entity.
Logistics separated.
Debt refinanced.
Voting agreements simplified.
But Charlotte’s attorney found one sentence buried in an appendix.
Non-participating trust interests shall be deemed consented to governance conversion unless objection is filed before effective date.
Charlotte stared.
“Non-participating?”
Her trust.
Because it had not formally appointed a voting representative.
Yet.
Victor said:
“This is standard.”
Her attorney answered:
“No, it isn’t.”
Silence.
If the restructuring passed, Charlotte’s current trust economic rights would remain.
But future voting rights could be converted into a class with weaker governance power.
Not theft.
Still substantial dilution of influence.
She looked at Victor.
“Were you hoping I wouldn’t find this?”
He smiled.
“You haven’t been involved for twenty-two years.”
“That isn’t an answer.”
Then Sebastian spoke.
“It is now.”
The vote was postponed.
Not canceled forever.
Reviewed.
That was governance.
May you like
No dramatic firing yet.
Evidence first.
