Chapter 20 - The Settlement Table
Six attorneys.
Two accountants.
Thomas.
David.
Evelyn.
Linda waited elsewhere.
The settlement took fourteen hours.
David would surrender controlling membership interests in all seven restaurant operating entities.
Walker Meridian would cancel portions of secured debt and assume certain liabilities.
The trademark and operating companies would be consolidated into a new corporation.
Thomas would control 72%.
A new employee trust would receive 10%.
Outside investors 8%.
David could retain 10% if he satisfied restitution obligations and cooperated fully.
David stared at the number.
“Ten.”
Thomas nodded.
“Or zero with litigation.”
David looked at the papers.
Twenty-two years reduced to percentages.
Then he asked:
“Do I keep any operational title?”
“No.”
David’s jaw tightened.
Thomas continued:
“For now.”
David looked up.
“If the board ever believes you've earned a role, that will be their decision.”
“Not yours?”
“No.”
David almost laughed.
“You finally built a board.”
“We both should have twenty years ago.”
At 11:43 p.m., David signed.
One signature after another.
Westminster.
Irvine.
Newport.
Pasadena.
San Diego.
Santa Monica.
Costa Mesa.
Seven restaurants.
Control transferred.
The friend Thomas once trusted to stand as legal owner had finally signed the rights back.
But victory felt nothing like Thomas imagined.
David placed the pen down.
“It's yours.”
Thomas looked at him.
“No.”
David frowned.
May you like
Thomas said:
“It's not going to belong to one man again.”
