Chapter 11 - THE ACCOUNTING
The accounting took four months.
No instant spreadsheet.
Norwood Woodworks had years of messy family bookkeeping.
Some mistakes favored my brother.
Some favored Dad.
Some favored me.
That was important.
Not every discrepancy was fraud.
The independent accountant separated categories.
Company distributions I should have received after my supposed redemption:
Approximately $612,000 before taxes and adjustments.
But I had received other payments during those years.
Consulting fees.
Project reimbursements.
A vehicle allowance for a period.
Some could offset amounts depending classification.
After review:
Net unpaid member distributions attributable to me:
$438,000 plus interest adjustments.
That was substantial.
Not millions.
Where did the money go?
Mostly not into my brother’s pocket directly.
The company retained some cash.
Paid debt.
Made additional distributions to Dad and my brother based on wrong ownership percentages.
My brother had received about $286,000 more than he would have under a correct twenty-percent share during Dad’s life.
Dad received more too.
Dad’s estate therefore had an overdistribution issue.
Messy.
The company owed corrections.
My brother personally owed some.
Estate owed some.
No clean villain accounting.
Then executor fees.
My brother had paid himself $96,000 for estate work over fourteen months.
Within possible statutory range.
But because he was removed for misconduct, some fee reimbursement became contestable.
The independent administrator negotiated partial disgorgement.
Again:
Not every dollar he touched was stolen.
The $1.2 million loan was real.
My brother had injected cash when a major customer delayed payment during Dad’s illness.
Without it, payroll would have been difficult.
That mattered.
He had protected the company financially while damaging it legally.
Humans remain inconvenient.
The independent board recommended repaying the loan over three years rather than converting it into equity.
I agreed.
My brother initially refused.
Then accepted after valuation.
He would get principal plus contractual interest.
No extra ownership.
Fair.
Employees kept jobs.
Payroll continued.
The paused restoration customer returned after governance reforms.
May you like
Good.
Justice did not require the company collapse around people who had nothing to do with our family.
