Tokyo Barrister: Start the law firm bankruptcy

Chapter 754: The End of the Board of Directors

Governor Nakano's proposal is simply unbelievable.

He even proposed to entrust Kitahara, a consulting lawyer of the Financial Services Agency, to serve as the attorney for the Bank of Tokyo.

It is rare for a lawyer to serve as the agent for both opposing parties at the same time.

And now, if Kitahara becomes a lawyer for both the Financial Services Agency and the bank, it will probably be the first case in the history of financial regulation in Japan.

Many directors thought this plan was a fantasy when they first heard it. However, after careful consideration, they thought it was the most reasonable option at present.

If, as President Nakano said, the bank prepared a regulatory response to the Financial Services Agency based on Hanzawa's report, it would undoubtedly be proactively exposing a large number of its own violations to the Financial Services Agency.

No matter what, the Financial Services Agency will definitely not let these violations go.

Since it was already a violation, it was reasonable for the bank to choose Kitahara as its attorney.

You know, the lawyer just now represented Hanzawa Naoki.

The fact that he was willing to represent Hanzawa on the board of directors meant that he didn't actually have any deep hostility towards the bank.

Choosing Bei Yuan as the bank's lawyer may seem incredible, but after a rational weighing and analysis, it turned out to be the best solution.

Many directors present had to secretly admire the superb skills of President Nakano. You know, everything that happened at the board meeting today was sudden and unexpected. And each scene was more dramatic than the last. It was impossible to imagine the best response plan in advance.

However, Governor Nakano was able to come up with this plan in an instant.

This speed of thinking is too fast.

After all, all the directors present are the best in the bank.

They may not have the ability to come up with such a plan.

But if this strategy were put in front of them, they would definitely understand its intention.

Soon, a director tentatively raised his hand in agreement.

Then there was the second, third, fourth, fifth...

In the end, all the directors in the conference room raised their hands in unison.

An unprecedented result appeared——

For the first time in the history of the Bank of Tokyo, the board of directors reached a unanimous agreement.

This was unthinkable in the past because of the struggle between the former industrialists and the former Tokyoists. There would always be a few unwilling elements who would vote against it.

The first unanimous consent actually appeared in the resolution of the entrusted lawyer.

This lawyer is Kitahara!

Kitahara's name is destined to be recorded in the history of the Tokyo Central Bank!

Nakano looked at the voting in front of him and said with a satisfied expression: "The resolution on Mr. Kitahara serving as our agent has been unanimously passed. So, next-"

Nakano looked up at Kitahara:

"It depends on whether Attorney Kitahara is willing."

All the directors' eyes fell on Kitahara.

No one would have expected such a huge turn of events. Just a few weeks ago, they were fierce enemies, but today they may become allies.

This is the complex interest of the real world. There are no eternal enemies, nor eternal friends.

Entrusting Kitahara lawyers as the bank's agent is probably the best explanation of this.

When Beiyuan saw the ball was kicked to him, he couldn't help but smile.

To some extent, Nakano's proposal today was beyond his expectations.

I don't mind being the bank's attorney. After all, when it comes to tracking down Eriko, the more authority the bank has, the better. Being the bank's attorney also means that I will be exposed to more secrets that I have never been able to touch before.

However, if Director Kurosaki knew what I did, he would probably be furious.

What does it matter?

Kitahara nodded: "I agree."

Between Nakano and Kitahara.

Either one party takes the initiative to extend the olive branch, or the other party readily accepts it.

Both parties are taking advantage of each other - there is no good intention on their part.

"Okay! From today on, Attorney Kitahara will be the representative of our bank." Nakano said with a smile, "For this Yoshizawa Trust case, the mediation with the Financial Services Agency depends on you!"

Kitahara also smiled and said, "President Nakano, in this mediation, I'm afraid it's not my ability that's important, but the bank's financial strength. It depends on how much real money the bank is willing to put up. If the price is high enough, the Financial Services Agency can consider administrative settlement."

Administrative... administrative settlement? !

The directors present's eyes lit up instantly when they heard these four words.

Administrative settlement means that the bank and the regulator will determine the compensation liability to be borne by the bank in the form of a settlement agreement.

Although settlement agreements also need to be made public, the amount of information disclosed is much less than that of administrative penalties.

Moreover, the settlement agreement does not require the bank to admit the illegality of its own actions.

This means that banks may have to pay huge compensation in exchange for avoiding administrative penalties.

In this way, the future of the Tokyo Central Bank has come back to life!!

The large number of violations left over from the radical expansion of the original industry faction in the past may be resolved in one go through this administrative settlement.

The future of banking, which had originally been dim, was suddenly filled with light.

Many directors are really on a roller coaster ride.

From the top of the valley to the peak of the mountain in an instant.

Member of Parliament Narita, who was standing by the sidelines, watched the board meeting come to an end. He did not expect that this lawyer named Kitahara would be the key figure in the battle of FSA regulation, and would influence the final fate of the bank. Who would have thought that the person behind all this was a lawyer.

Narita silently repeated Kitahara's name in his mind. He felt that the name sounded familiar. Suddenly, he remembered that the case of the Finance Department of Shinjuku City Hall was also handled by Kitahara, but he was the agent of the enterprise. Interesting, really interesting, this young man named Kitahara.

Although the procurement bidding scandal of Shinjuku City Hall is still under investigation, it is certain that it will have a great impact on the parliamentary re-election next spring.

Lawyer Kitahara not only got involved in the regulatory case of the Tokyo Central Bank.

It even got involved with Shinjuku Ward City Hall and events related to the parliamentary re-election.

Narita thought this might be a coincidence.

A young man stumbles into two influential events.

But what if it wasn't a coincidence? This thought suddenly occurred to Narita.

At this moment, Nakano's voice sounded:

"Then I'll leave the response to the regulatory investigation of the Tokyo Central Bank to Mr. Kitahara."

President Nakano stood up and bowed deeply to Kitahara.

Seeing this, the other directors also stood up and bowed.

It's a spectacle.

This is a board meeting that bows to the lawyers.

(End of this chapter)