Chapter 4 - THE BABY WITH EIGHTEEN PERCENT
The Kane Legacy Trust was written by Lucas’s grandfather.
Old money language.
Old control.
Upon the birth of Lucas’s first lawful child, eighteen percent of Kane Capital voting shares would move into a child-benefit trust.
The child’s legal guardian influenced the trustee appointment.
Emma had never cared.
Margaret had.
Kane Capital’s refinancing needed votes.
If Emma controlled the guardian appointment, she could influence eighteen percent at the worst possible moment.
Lucas looked at his mother.
“This is about Hawthorne.”
Margaret’s expression hardened.
“It is about preserving the company.”
Emma laughed.
“There it is.”
Margaret turned.
“You oppose the restructuring.”
“I oppose selling the hotel division.”
“It loses money.”
“My father worked there for thirty years.”
“Exactly.”
Margaret looked at Lucas.
“She is emotionally tied to an asset the company cannot afford.”
Emma’s face flushed.
“That does not make me incompetent.”
“No.”
Margaret’s answer was immediate.
“It makes you conflicted.”
Strong.
Cruel.
Not stupid.
Lucas hated that.
Kane Capital genuinely was in trouble.
The Hawthorne plan brought cash.
It also gave the investment firm conversion rights that could eventually dilute family control.
Emma wanted asset sales instead.
Margaret believed that would trigger layoffs.
Both had arguments.
Neither argument justified these papers.
Lucas said:
“The baby is not a vote.”
Margaret’s eyes flashed.
“The trust made the baby a vote before any of us were born.”
“Then change how we handle the trust.”
“You cannot rewrite it before the lender deadline.”
Richard spoke carefully.
“The continuity structure was designed to prevent sudden incapacity from destabilizing the board.”
Emma stared.
“Why was I the only incapacity you planned for?”
Richard said nothing.
Lucas noticed.
“So this package existed before the bruises.”
Richard’s silence answered.
Emma went cold.
May you like
Margaret had not reacted to a medical crisis.
She had prepared for one.
