Reference no: EM132885242

Problem 1: You are employed by a Developer as a project manager. In this capacity you have also been appointed individually as the general director of a joint venture company (JV) where the Developer owns 10% of the shares and the remaining 4 partners own the remaining 90% of the shares. Tomorrow, there will be a board meeting for the JV company and the agenda includes a decision on whether or not to pay an upcoming installment of interest due to the Lender on your project. Your boss to whom you report at the Developer has strongly suggested to you not to authorize the interest payment and instead have the JV retain these funds in reserve during the on-going negotiations with the Lender on restructuring their loan. You have had conversations with the other 4 partners and they are concerned about their reputations if the interest payment is not made on a timely basis; but they indicated that they will listen to what you have to say. The Developer is also owed outstanding fees from the JV. What do you say at tomorrow's board meeting; and how do you vote?