Chapter 337 The Fair Family Might Go Bankrupt
Selena's brow furrowed even deeper. The document only mentioned a $700 million deal with the Fair Group but didn't say what the deal was about.
Selena started to get really anxious. What kind of deal involved $700 million?
In the last round of financing for the Fair family company, the Montague family didn't even put in $700 million. This project was way bigger than that.
Selena's heart was racing, and she couldn't keep calm anymore. She called Caterlington, who had just bought out Reid's company and probably knew more about Apex Holdings Group than Shelley did.
When Caterlington picked up, he was in a meeting, casually twirling a pen between his fingers.
Caterlington said, "Penny, you only call when you need something, huh?"
Selena said apprehensively, "Mr. Walsh, I just need to know what project Apex Holdings Group is up to."
Caterlington leaned back and chuckled. "What's going on? Your family signed a deal with Apex Holdings Group?"
Selena said, "Looks like it. My dad's still in the hospital. His assistant signed the deal, probably using my dad's seal."
Caterlington squinted. "Apex Holdings Group approached the Montague Group before, but I heard they got blacklisted. To be blunt, it's a scam company, though they have a lot of talent and connections. They even made it to the rich list once, but you know those lists are manipulated by capital. They rank companies based on their balance sheets without much scrutiny. Raymond must have seen through Apex Holdings Group's tactics long ago. They like to use loopholes in contracts to force small and medium-sized businesses into bankruptcy. That's why I heard the Montague Group blacklisted them."
Selena's heart skipped a beat. "How do they force companies into bankruptcy?"
Caterlington knew she was anxious and said, "Based on their previous tactics, I'd guess your Fair family sells paint. Paint prices fluctuate a lot, tied to other raw materials. The price difference between the start and middle of the year could be as much as twenty percent. Apex Holdings Group is great at getting companies to sign agreements to sell paint at a set price in the coming months, like $45 per barrel. If in three months, the price of paint drops below that, your company profits from the market difference. Seems foolproof, right?"
Selena nodded. It did seem that way, at least so far.
Caterlington said, "But the orders they sign are usually massive, way more than the company can handle. Like, they might sign a $140 million order for three months, but even with overtime, you can't produce that much paint. That means you've breached the contract first and owe them $280 million in compensation. Most companies would try to push their employees to meet the target. Apex Holdings Group has the best algorithm experts; the project they sign will definitely be beyond your company's capacity, forcing you to pay up."
After Caterlington finished, his tone was indifferent. "How many orders did your company sign with them?"
Selena responded in a shaky voice, "$700 million."
Caterlington's expression instantly became serious, and he chuckled. "As far as I know, the Fair family company's second round of financing didn't even reach that amount. Could it be that Raymond recently intercepted all your orders, causing significant losses for the company, prompting you to take a risk?"
Caterlington's words hit the nail on the head. The board members were definitely thinking the same thing.
They knew a $700 million order was huge, equivalent to the company's usual two-year production; completing it in six months was impossible. But because the Montague Group had intercepted all the company's clients, leaving them with little business for half a year, everyone was panicking.
The contract from Apex Holdings Group came at just the right time. Having the factory employees work to death was better than everyone being idle and the company facing bankruptcy. Besides, Beatrice strongly supported Kenny, so the contract was approved.
Selena didn't know all the details yet. She only knew one thing for now: the Fair family was at stake. One misstep could lead to bankruptcy.
She recalled Raymond's words; the Fair family going bankrupt had nothing to do with him.
Selena's eyes flickered. After hanging up the phone, she calmed down completely.
Being anxious was useless now. She had no right to interfere with the board's decisions. All she could do was hope James would wake up.
Meanwhile, Raymond was sitting in the Montague Group's office, with the city's myriad lights behind him.
John came in, carrying an armful of documents and couldn't help but say, "Mr. Montague, I heard Apex Holdings Group has signed a deal with the Fair family."
Raymond didn't even bat an eye.
John continued, "Seven hundred million dollars. That's the Fair family's two-year order volume, and they have to complete it in six months, or they'll face compensation. The Fair family's company might go bankrupt."
Raymond calmly lifted his head and put down the pen in his hand. "Don't you have anything else to do?"
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