infolio

Chapter 16 - The business was worse than Ryan admitted

Once the case began, Mercer Ridge’s real financial condition surfaced.

The company was not merely having a bad quarter.

It faced:

$11.2 million in near-term obligations.

Two projects over budget.

One major investor demanding exit.

A bank covenant breach.

Unpaid subcontractor claims.

Receivables that Ryan had projected too optimistically.

Still not necessarily doomed.

But distressed.

The proposed refinancing could have bought time.

My collateral would have made the lender more comfortable.

Ryan told himself:

“If Natalie signs, everyone survives.”

That sentence appeared repeatedly in messages.

May you like

He converted my consent into a moral obligation.

Then converted my refusal into betrayal.

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