Chapter 3 - THE DOCUMENT CHLOE TRIED TO HIDE
Clara did not argue further inside the dining room.
She asked Daniel for two meals to go.
One for Matthew.
One for herself.
Arthur called it dramatic.
Clara ignored him.
Matthew ate grilled chicken and potatoes in the car while Clara photographed every page in the account folder.
The pledge request was real.
A private lender called Pacific Heritage Capital had been asked to provide a $900,000 business line.
Borrower:
C. Bennett Lifestyle Group LLC.
Chloe’s company.
Clara had never heard of it.
Collateral proposed:
A security interest in Bennett Coastal Holdings assets, specifically the Coronado condo and vessel interests.
Required consent:
Arthur Bennett.
Chloe Bennett.
Clara Bennett, managing member.
Arthur and Chloe had signed.
Clara had not.
That was why the loan had stalled.
The yacht club had received a verification request because the lender wanted confirmation that the club account and berth were in good standing.
Daniel had placed the associated correspondence in Clara’s family account folder because she was the administrator of record.
Chloe recognized it immediately.
Three days earlier, she had apparently told the lender Clara’s consent was “administrative and expected.”
Clara called an attorney before going home.
Michelle Park had handled several LLC matters for Helen’s estate and still represented Bennett Coastal Holdings when necessary.
Clara emailed the documents.
Michelle called twenty minutes later.
“Did you approve a pledge?”
“No.”
“Did you tell Chloe you would?”
“No.”
“Did Arthur?”
“I don’t know what Dad tells people anymore.”
Michelle exhaled.
“Then nobody signs anything until we understand the existing debt.”
Clara frowned.
“Existing?”
There was a pause.
“Clara, if this lender is asking for a second-position security interest, something may already be secured.”
Clara pulled into her driveway.
Matthew slept in the back seat.
“What is already secured?”
“I don’t know yet.”
Clara looked at her son.
May you like
Three hours earlier her father had told her she should have brought food for him.
Now she wondered whether Arthur had been feeding an entire lifestyle with assets Clara was legally responsible for protecting.
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