Chapter 14 - The company almost pays for the family war
Ravelle Holdings’ revolving credit facility came up for renewal.
Banks asked:
Is succession litigation resolved?
No.
Is Benedict staying CEO?
Yes.
Any material governance risk?
Yes.
One lender proposed:
Higher pricing.
More independent-board oversight.
Restrictions on related-party transactions.
No surprise.
Genevieve’s uncertainty had a cost.
The board demanded action.
Not revenge against Genevieve.
Governance.
Special monitor Kessler recommended:
Temporary independent approval for major family-related votes.
No children named as successors.
No family-council member able to bind trustee alone.
Disclosure of all family-paid legal expenses.
Then one outside director asked me:
“Will you step down?”
“No.”
“Why not?”
“Because my sister forged a succession claim?”
“Because your public profile is part of the risk too.”
There.
He was right.
I agreed to something I would have rejected a year earlier.
Three-year defined CEO term subject annual board review.
Independent lead director.
No automatic renewal.
No lifetime throne.
Genevieve’s lawyer called it proof she had forced reform.
Maybe.
Bad actors can still expose real weaknesses.
Then the lender renewed.
Slightly higher interest margin.
No collapse.
No empire seized.
No secret cash.
Business survived.
Employees kept working.
May you like
The city did not wake up under new rule.
Real corporate consequences are usually less cinematic and more expensive.
