Somebody on this Board must have the easy answer to this. Having said that: Credibility of sworn statements. Sworn statements are given with right hand raised and left hand with fingers crossed.
Show me the written agreement, or show me that the actions of Morgan fell within his purview as normal course of business, and that he didn't need a written directive.
Dealing with Margaret as CEO to Secretary, I think she loses.
Dealing with Margaret as CEO to Custodian, I think he loses.
Margaret is always the Custodian, so,....................