Free The Two Sisters of Borneo by Ian Hamilton Page A

furniture?”
    “It does appear to be that way.”
    “And all of it ours?”
    “Yes.”
    “So Meijer has taken possession of it?”
    “Yes, as they are legally entitled to do.”
    “And now they’re selling it off.”
    “That is the case.”
    “For cents on the dollar.”
    “Ms. Lee, they are a secured creditor,” Visser said carefully. “Under our laws, they are simply exercising their rights.”
    “And as the trustee, you have no power, you have no influence?”
    “We have a complete record of the inventory, and Meijer is required to report any and all sales they make from that inventory. If they recover funds in excess of what they are owed, the money will be accrued to us. If they recover their funds and any inventory is left, then we are able to sell it ourselves and disperse those funds among the unsecured creditors on a pro rata basis.”
    “Yes, I saw there were other unsecured creditors, but aside from warehousing and transportation companies, they hardly amount to anything.”
    “That’s correct, Ms Lee. You’re talking about a landlord owed a few months’ rent, and other such minor claims. The warehouse companies have already been looked after.”
    “What?”
    “I’m told they were holding the furniture for ransom and Meijer had to pay them off to get access to it.”
    “So, what you’re telling me,” Ava said, her agitation growing, “is that there’s only one unsecured creditor of any size, and that’s us.”
    “True enough.”
    “And any assets in the firm happen to be tied directly to us as well.”
    “That is the case.”
    “And you don’t find that strange?” Ava said.
    “I don’t understand your question.”
    “How does it come to pass that this finance company would extend that level of credit to a company that appears to have had no assets except for inventory they bought on terms from us?”
    “Ms. Lee, it isn’t our job to tell companies like Meijer who they can and cannot finance. Equally, it isn’t our job to tell companies like yours who can they sell to and what terms they should extend to their customers. We are here to pick up the pieces when things go badly. And in this case things went badly for Janssen and Meijer, and as is their legal right, they’ve stepped in to protect themselves. Unfortunately — and for reasons entirely of your own doing, may I add — your company is not so well situated.”
    Ava had been making point-form notes as she spoke to Visser. Now as she looked down at them, all she could see was the line she had drawn between Janssen and Meijer.
    “Where did the money go?” she asked abruptly.
    “What do you mean?”
    “If Meijer financed Janssen to the tune of more than twenty million dollars, and if the money was supposed to pay for furniture inventory but no inventory was paid for, then where the hell is the money?”
    “That’s a very good question,” Visser said.
    “Really?” Ava said.
    “There’s no reason to be sarcastic, and no reason for you to think we haven’t done due diligence.”
    “Then where is the money?”
    “Ms. Lee, Meijer and Janssen had a business relationship that extended over the past fifteen years. The debt in question was cumulative. In truth, Meijer could have pulled the plug on Janssen several years ago, but obviously they were hoping things would turn around with the business and so they kept it afloat.”
    “They told you this?”
    “Yes, they did, and you need to know that we confirmed it.”
    “So, what? They just decided to call in their loans a month ago?”
    “They did.”
    “Entirely coincidentally with Janssen’s receiving massive shipments of goods from us?”
    “I can’t speak to the coincidence part.”
    “Of course not, although you do have to admit it was very convenient for Meijer to act when they did.”
    “Obviously.”
    “From where I stand, I have to tell you it looks like some form of collusion was at play.”
    “Ms. Lee —”
    “It stinks, and you know it