I spent the next three days in Arthur's office, surrounded by loan papers and court filings.
The injunction hearing was scheduled for Monday. Graham's lawyers argued that the foundation had promised Vale Holdings exclusive management authority once the bridge loan was converted. The board minutes didn't support that claim, but the original loan summary was vague. The company wanted to stop the sale of the western gallery and the donor group's management agreement until the dispute was settled.
If the court granted the injunction, the lender could demand repayment. The sale would stall. The foundation might not make payroll at the end of the month.
Arthur spread the documents across his conference table. "We need to show that the proxy was never executed and that the board acted within i
