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The only other action he took during the flight was to tear up the contents of the files Sir Paul had left behind on the boardroom table. He then disappeared into the lavatory and flushed the little pieces down the bowl.

When the plane taxied to a halt at Nice airport, a chauffeur-driven Mercedes drew up beside the steps. No words were exchanged as Armstrong climbed into the back: the chauffeur didn’t need to ask where his master wished to be taken. In fact Armstrong didn’t utter a word during the entire journey from Nice to Monte Carlo; after all, his driver was not in a position to lend him $50 million.

As the car swung into the marina, the captain of Armstrong’s yacht stood to attention and waited to welcome him on board. Although Armstrong had not warned anyone of his intentions, others had phoned ahead to alert the thirteen-man crew of Sir Lancelot that the boss was on the move. ‘But God knows to where,’ had been his secretary’s final comment.

Whenever Armstrong decided that the time had come for him to head back to the airport, his secretary would be informed immediately. It was the only way any of his staff around the world could hope to survive for more than a week.

The captain was apprehensive. The boss hadn’t been expected on board for another three weeks, when he was due to take a fortnight’s holiday with the rest of the family. When the call had come through from London that morning, the skipper had been at the local shipyard, supervising some minor repairs to Sir Lancelot. No one had any idea where Armstrong was heading, but he wasn’t willing to take risks. He had, at considerable expense, managed to get the yacht released from the shipyard and tied up at the quayside only minutes before the boss had set foot in France.

Armstrong strode up the gangplank and past four men in crisp white uniforms, all standing to attention and saluting. He slipped off his shoes and went below to the private quarters. When he pushed open the door of his stateroom, he discovered that others had anticipated his arrivaclass="underline" there were several faxes already piled up on the table beside his bed.

Could Jacques Lacroix possibly have changed his mind? He dismissed the idea instantly. After years of dealing with the Swiss, he knew them only too well. They remained an unimaginative, one-dimensional nation whose bank accounts always had to be in the black, and in whose dictionary the word ‘risk’ wasn’t to be found.

He began to flick through the sheets of curling fax paper. The first was from his New York bankers, informing him that when the market had opened that morning, the price of shares in Armstrong Communications had continued to drop. He skimmed the page until his eyes settled on the one line he had been dreading. ‘No buyers, only sellers,’ it stated clinically. ‘If this trend continues for much longer, the bank will be left with no choice but to consider its position.’

He swept all the faxes onto the floor, and headed for the little safe hidden behind a large framed photograph of himself shaking hands with the Queen. He swiveled the disk backward and forward, stopping at 10-06-23. The heavy door swung open and Armstrong placed both his hands inside, quickly removing all the bulky wads of cash. Three thousand dollars, twenty-two thousand French francs, seven thousand drachma and a thick bundle of Italian lire. Once he had pocketed the money, he left the yacht and headed straight for the casino, without telling any of the crew where he was going, how long he would be or when he might return. The captain ordered a junior rating to shadow him, so that when he made his way back toward the harbor they wouldn’t be taken by surprise.

A large vanilla ice cream was placed in front of him. The head waiter began to pour hot chocolate sauce over it; as Armstrong never suggested that he should stop, he carried on until the silver sauce-boat was empty. The cyclical movement of the spoon began again, and didn’t cease until the last drop of chocolate had been scraped off the side of the bowl.

A steaming black coffee replaced the empty bowl. Armstrong continued to gaze out over the bay. Once the word was out that he couldn’t cover a sum as small as $50 million, there wouldn’t be a bank on earth that would consider doing business with him.

The head waiter returned a few minutes later, and was surprised to find the coffee untouched. ‘Shall we bring you another cup, Mr. Armstrong?’ he asked in a deferential whisper.

Armstrong shook his head. ‘Just the check, Henri.’ He drained his champagne glass for the last time. The head waiter scurried away and returned immediately with a folded slip of white paper on a silver salver. This was one customer who couldn’t abide waiting for anything, even the bill.

Armstrong flicked open the folded slip but showed no interest in its contents. Seven hundred and twelve francs, service non compris. He signed it, rounding it up to a thousand francs. A smile appeared on the head waiter’s face for the first time that evening — a smile that would disappear when he discovered that the restaurant was the last in a long queue of creditors.

Armstrong pushed back his chair, threw his crumpled napkin on the table and walked out of the restaurant without another word. Several pairs of eyes followed him as he left, and another was watching as he stepped onto the pavement. He didn’t notice the young rating scamper off in the direction of the Sir Lancelot.

Armstrong belched as he strode down the promenade, past dozens of boats huddled close together, tied up for the night. He usually enjoyed the sensation of knowing that the Sir Lancelot was almost certain to be the largest yacht in the bay, unless of course the Sultan of Brunei or King Fahd had sailed in during the evening. His only thought tonight was how much she might fetch when she was put up for sale on the open market. But once the truth was known, would anyone want to buy a yacht that had been owned by Richard Armstrong?

With the help of the ropes, Armstrong yanked himself up the gangway to find the captain and the first officer awaiting him.

‘We’ll sail immediately.’

The captain was not surprised. He knew Armstrong would not want to be tied up in port any longer than was necessary: only the gentle swaying of the boat could lull him to sleep, even in the darkest hours. The captain began issuing the orders to get under way as Armstrong slipped off his shoes and disappeared below.

When Armstrong opened the door of his stateroom he was met by yet another pile of faxes. He grabbed them, still hoping for a lifeline. The first was from Peter Wakeham, the deputy chairman of Armstrong Communications, who, despite the late hour, was obviously still at his desk in London. ‘Please call urgently,’ read the message. The second was from New York. The company’s stock had plummeted to a new low, and his bankers had ‘reluctantly found it necessary’ to place their own shares on the market. The third was from Jacques Lacroix in Geneva to confirm that as the bank had not received the $50 million by close of business, they had been left with no choice but to...

It was twelve minutes past five in New York, twelve minutes past ten in London, and twelve minutes past eleven in Geneva. By nine o’clock the following morning he wouldn’t be able to control the headlines in his own newspapers, let alone those owned by Keith Townsend.

Armstrong undressed slowly and allowed his clothes to fall in a heap on the floor. He then took a bottle of brandy from the sideboard, poured himself a large glass and collapsed onto the double bed. He lay still as the engines roared into life, and moments later he heard the clanking of the anchor being hauled up from the sea bed. Slowly the ship began to maneuver itself out of the harbor.