Fred's two big mistakes

Handing the ownership of 93% of 1921 to Jenkins / Nixon / Pattison was a dreadful decision.

Cancelling the 1921 debt of more than a million pounds to Story Construction was meant
to ease the change of ownership to the Andrew Lapping Consortium. Fred made the crucial
mistake of believing that he was dealing with people whose uppermost thoughts were about
the well-being of 1921. But the cancelling of the debt actually made it easy for the incumbent
ownership to decide to terminate the process of changing ownership. Fred should have made
an irrevocable commitment to cancel the loan after the change of ownership had occurred.