The chief financial officer first learned about the mechanic's latest report on a Wednesday morning.
He was sitting in an executive conference room overlooking the airport ramp.
A presentation displayed Crestline's expected closing proceeds.
The eight-hundred-million-dollar transaction was divided into several components under the agreement, but the primary funded closing transfer was scheduled to occur as a single coordinated release.
The money had been committed through the buyer's financing arrangements and deposited with the designated transaction institutions under conditions agreed by the parties.
Crestline didn't yet control it.
The buyer couldn't simply use it for unrelated purposes.
And neither side could treat it as completed sale proceeds until the required closing steps were satisfied.
That distinction had been explained repeatedly.
But the financial officer preferred speaking about the money as though it were already secured.
He wanted the billionaire to believe the difficult work was finished.
He also wanted the transaction completed before the next major debt deadline.
Several lending arrangements would become considerably more uncomfortable if the closing slipped.
The company's lenders weren't threatening immediate collapse.
But the financial flexibility was narrowing.
A delayed sale could force Crestline to pursue expensive refinancing.
The financial officer knew this.
He also knew that his own compensation included a significant transaction-related bonus payable only after closing.
That bonus wasn't illegal.
Many senior executives received incentives tied to completed deals.
But it created a powerful personal reason to avoid delays.
He reviewed the mechanic's latest report.
Then called the head of fleet operations.
“Why is this still open?”
The younger executive looked uncomfortable.
“The maintenance department wants supporting documentation from the contractor.”
“We've already supplied the revised summaries.”
“They're asking for underlying records.”
The financial officer sighed.
“Of course they are.”
The younger executive glanced toward the aircraft schedule.
“The independent buyer's team has raised the same issue.”
The financial officer looked up sharply.
“Who told them?”
“I don't know.”
He stared.
Then leaned back.
“Listen carefully. We need the final inspection to proceed without turning a paperwork discrepancy into a crisis.”
The younger executive nodded.
“Understood.”
“Make certain the aircraft is presented properly.”
“Yes.”
“And get the maintenance manager to close whatever can legitimately be closed.”
The younger executive hesitated.
“Some items require technical verification.”
The financial officer's face tightened.
“Then obtain it.”