Chapter 6 - THE MONEY JOLENE COULD HAVE USED
Jolene was not broke.
Not remotely.
That mattered.
Her trust held approximately $5.7 million in marketable securities, plus her personal residence in Greenwich and interests in several Mercer House entities.
She had already loaned Mercer House Group $2.4 million over three years.
The loans paid interest.
They were secured by company assets.
Sloan’s $900,000 loan was subordinated to Jolene’s.
Sloan read that twice.
“Was I told?”
Katherine searched the old agreements.
“Your loan was documented as subordinated.”
“I mean, was I told Mom was senior to me?”
“The document disclosed it.”
Sloan remembered signing at 11:30 one night after four days of fighting with Vance.
Technically disclosed.
Emotionally buried.
Another lesson.
Jolene had spent two years accusing Sloan of using money to control Vance while holding a senior secured family note herself.
Sloan called Tinsley.
Not because she trusted her.
Because Tinsley was terrible at lying under pressure.
“Why does your mother have a $2.4 million note?”
Silence.
“Tinsley.”
“Dad left her money.”
“That’s not what I asked.”
“She put money into the company.”
“And charges interest.”
“So?”
“So she called my loan extortion.”
Tinsley exhaled.
“I didn’t know yours was a loan.”
Sloan went still.
“What did Vance tell you?”
“That you made him sign away the apartment because you gave the company money.”
“The company owes me $550,000.”
Tinsley said nothing.
“You thought I just handed them nine hundred thousand dollars?”
“I thought that’s what spouses did.”
Sloan nearly laughed.
“Interesting definition.”
Tinsley’s voice changed.
“Look, what happened last night was insane.”
“You tried to hit me.”
“I know.”
“Why?”
Another silence.
“Because Mom told me you were about to destroy us.”
Sloan sat back.
Jolene had told Tinsley the bank financing was necessary because Sloan had “pulled money out” of Mercer House.
Sloan had never withdrawn anything.
She had simply refused to extend the loan.
Tinsley believed the $550,000 repayment balance was cash Sloan had demanded back immediately.
“She said if First Hudson failed, our Westchester venue would close.”
“Is that true?”
“I don’t know.”
There it was again.
Nobody knew.
Vance handled operations.
Jolene handled family capital.
Tinsley handled image.
Everyone spoke with certainty.
Almost nobody read the underlying documents.
Sloan asked one more question.
“Did Vance tell you I had agreed to pledge the penthouse?”
Tinsley whispered:
“He said you would.”
Not had.
Would.
Vance had built an entire refinancing around the expectation that eventually his wife could be made to submit.
May you like
Sloan looked at the water stain still darkening one seam in the marble.
Last night had been the family’s final attempt to prove him right.
