Tokyo Barrister: Start the law firm bankruptcy

Chapter 862 Chaos

Anyone who invests seeks a return.

At least, Uejima believes that the so-called cutting-edge aerospace metal materials are not Nippon Steel's strong point. Although Shima Miho said so, Uejima does not believe that this is the real purpose of Future Space Co., Ltd. They may have set their sights on some other assets of Nippon Steel, but Uejima cannot make a judgment now.

At this moment, the door of the conference room was suddenly opened.

Those who hurried in were the financial director Nagai and Nippon Steel's lawyer Tanimoto.

Nagai saw Minister Terada was also inside and quickly apologized, "No... Sorry, I'm late!"

"Do you have something to report?" Nippon Steel Director Shibata asked, "Why do you look so anxious?"

Nagai nodded immediately, "Yes. There is an urgent matter that needs to be reported immediately."

Then, Nagai noticed the presence of Shima Miho in the conference room.

For a moment, he hesitated.

I don’t know whether I should report this in front of people outside the company.

"Ms. Shima Miho is one of our own," Shibata said. "If you have anything to say, you can speak it out here without any scruples."

"Okay." Nagai wiped the sweat off his body. "Here's what happened. There are about a hundred companies that have contracted Nippon Steel's workshops. Now they are uniting and asking for the pending settlement through lawyers. The total debt of these one hundred contractors is about 200 to 300 billion yen. Of course, they claim it is 1600 billion yen. They are currently demanding that the company pay back the money immediately."

"Nagai! Do you need to report such a small matter in such a place?" Upon hearing this, Shibata could not help but immediately blame, "What kind of place is this? Sometimes, you need to know the priorities when reporting things!"

"Chairman." Nagai gritted his teeth and continued, "This time it's different. The other party has hired a lawyer. And the other party's lawyer, Kitahara, gave them some advice. These more than 100 contractors have purchased a small amount of Nippon Steel's listed shares. Now they are demanding to exercise their right to know as shareholders!"

"Shareholders' right to know?" Shibata frowned.

"Yes," Nagai said. "Specifically, they asked to review the company's shareholder meetings, board resolutions, financial reports, and accounting books."

"What!!!" Upon hearing this, Shibata immediately opened his eyes in anger, "What are they doing?! Do they lack common sense?! To do such a ridiculous thing! How can these things be shown to outsiders!!"

In an instant, the originally peaceful meeting was disrupted by Nagai.

Or to be more precise -

It was Kitahara who messed it up.

"In short..." Nagai continued, "They are mainly the workshop contractors of the Sixth and Seventh Steel Plants. They are afraid that the equipment they invested in the workshop will be mortgaged to the bank by us. They demanded to attend the creditors' meeting between Nippon Steel and the bank."

"How could such an unreasonable thing happen?!" Shibata suddenly became furious.

Everything was on its way to being finalized.

Now a bunch of workshop contractors suddenly emerge.

Are we actually going to do something bad because of these people? !

How can it be? !

How can such a thing be allowed to happen!

These small businesses actually requested to attend the creditors' meeting between Nippon Steel and major banks.

This is simply unreasonable!!

Terada was also confused for a moment. Workshop contractors? As shareholders, they demanded to review Nippon Steel's corporate resolutions and accounting books? What happened was indeed beyond Terada's expectations. However, as the Minister of General Affairs, his focus was on more than a hundred contractors.

At such a critical moment, if such a collective incident occurred, it would be very bad.

Terada said, "This matter must be handled properly. Judging from the number of people, more than a hundred contractors is not a small number. But more importantly, whether this incident will have a demonstration effect. You know, Nippon Steel has at least thousands of suppliers." "It is well known that the steel market has been sluggish recently. The slowdown in payment collection is a common phenomenon in the steel industry, not just a problem for Nippon Steel. Everyone is having a very difficult time at this time. The incident involving the workshop contractor must be handled with caution. At least thousands of suppliers are watching the resolution of the incident."

Terada's vision is indeed higher.

He sees more than just the current case.

What he saw was the possible follow-up impact of this incident.

After all, if thousands of suppliers demanded payment from Nippon Steel at the same time, then Nippon Steel's current cash flow would be broken. Therefore, we must be careful, careful, and careful.

"But, Minister Terada," Shibata said, "we can't possibly allow these contractors to actually participate in our meetings with the bank."

"Drag." Terada gave a very simple instruction.

"We'll try our best to drag this period out," Terada said. "The bank's financing plan, plus the strategic investment in Future Space, will take about two months. No matter what, the company needs to stabilize the emotions of contractors and suppliers. As long as the financing plan and strategic investment are finalized, we won't have to worry about anything."

Terada's meaning is very simple and clear.

Some things can be easily solved as long as you don't weigh them.

But once you get on the scale, there's no solution.

This is currently the case with Nippon Steel.

As long as the true situation of Nippon Steel's operating difficulties is not exposed.

It is always possible to use power to push big banks to provide financing.

We can also request Future Space to make a strategic investment in Nippon Steel.

However, once it is exposed, it is a different matter.

Faced with media pressure, banks cannot help but review loans according to loan procedures. In the past, it was just a formality, but now that the media is under the spotlight, everything must be done according to procedures.

Similarly, the same applies to strategic investments in future space.

Such a large investment must also go through the company's internal approval procedures.

If both parties really went through this procedure, Nippon Steel would have collapsed and been forced into bankruptcy.

This is the situation that Terada doesn't want to see.

"I understand. We will definitely do our best." Shibata said, "Nippon Steel will definitely properly handle the payment issues of contractors and suppliers."

General Manager Uejima watched all this happen from the side.

The executive is not only worried about the outstanding payments from suppliers or contractors.

Perhaps they can still rely on Terada's tactic of procrastination to solve the problem.

But then there is the difficult issue of the trade union, which is not so easy to resolve!

(End of this chapter)