“The credit agreement has an accelerated-default clause tied to executive ethics and financial disclosures,” Chidera said.

“The loan matures in forty-eight hours, with an option for Meridian to demand full repayment if the debt-to-equity ratio moves.

His CFO filed an extension request on Friday and assumed it would be rubber-stamped.”

“Deny the extension,” I said.

“Cross-default every secondary line tied to his personal guarantees.

And have Blackthorn’s board called into an emergency meeting at two o’clock this afternoon.”