Its the excitement of being partner. Its addled my
brain. OK. Lets look at this again, carefully.
But the memo says exactly the same thing as before. At-tend to registration. Dated May
26th. Which would mean Ive exposed Third Union Bank to an unsecured loan. Which would mean
Ive made about the most elementary mistake a lawyer can make.
Theres a kind of iciness about my spine. Im trying desperately to remember ifArnold said
anything about the deal to me. I cant even remember him mentioning it. But then why would
he mention a simple loan agreement? We do loan agreements in our sleep. He would have
assumed Id carried out his instructions. He would have trusted me.
Oh, Jesus.
I leaf through the pages again, searching desperately for some loophole. Some miracle
clause that will have me exclaiming Oh, of course ! in relief. But of course its not there.
How could this have happened? Did I even notice this? Did I sweep it aside, meaning to
do it later?
What am I going to do? A wall of panic hits me as I take in the consequences. Third Union
Bank has lent Glazerbrooks £50 million. Without the charge being registered, this loanthis
multimillion-pound loanis unsecured. If Glazerbrooks went bust tomorrow, Third Union Bank
would go to the back of the queue of creditors. And probably end up with nothing.
Samantha! says Maggie at the door. Instinctively I plant my hand over the memo even though
she wouldnt realize the significance, anyway.
I just heard! she says in a stage whisper. Guy let it slip! Congratulations! Um... thanks!
Somehow I force my mouth into a smile. Im just getting a cup of tea. Dyou want one? Thatd
be... great. Thanks.
Maggie disappears and I bury my head in my hands. Im trying to keep calm, but inside is a
great well of terror. I have to face it. Ive made a mistake.
I have made a mistake.
What am I going to do? I cant think straight
Then suddenly Guys words from yesterday ring in my ears, and I feel an almost painful
flood of relief. A mistake isnt a mistake unless it cant be put right .
Yes. The point is, I can put this right. I can still register a charge.
The process will be excruciating. Ill have to tell the bank what Ive doneand
GlazerbrooksandArnold and Ketterman. Ill have to have new documentation drawn up. And,
worst of all, live with everyone knowing Ive made the kind of stupid, thoughtless error a
trainee would make.
It might mean an end to my partnership. I feel sickbut theres no other option. I have to
put the situation right.
Quickly I log on to the Companies House Web site and enter a search for Glazerbrooks. As
long as no other charges have been registered against Glazerbrooks in the meantime, it
will all come to the same thing...
I stare at the page in disbelief. No.
It cant be.
Theres a new debenture in Glazerbrooks charge register, securing £50 million owed to some
company called BLLC Holdings. It was registered last week. Third Union Bank has been
bumped down the creditors queue.
My mind is helter-skeltering. This isnt good. Its not good. I have to talk to someone
quickly. I have to do something about this now, before any more charges are made. I have
to... to tellArnold .
Just the thought paralyzes me with horror.
I cant do it. I just cant go out and announce Ive made the most basic, elementary error
and put £50 million of our clients money at risk. What Ill do is... is start sorting out
the mess first, before I tell anyone here. Have the damage limitation under way. Yes. Ill
call the bank first. The sooner they know the better
Samantha?
What? I practically leap out of my chair.
Youre nervy today! Maggie laughs and comes toward the desk with a cup of tea. Feeling on
top of the world?
For an instant I honestly have no idea what shes talking about. My world has been reduced
to me and my mistake and what Im going to do about it.
Oh! Right. Yes! I try to grin back and surreptitiously