Tokyo Barrister: Start the law firm bankruptcy

Chapter 868 Announcement

Who would suddenly call in during such an important meeting? Nippon Steel Chairman Shibata frowned and was about to hang up the phone. But for some reason, the sudden ringing made him feel uneasy. He wanted to hang up, but he pressed the answer button instead.

The voice of the company's executive lady came from the other end of the loudspeaker phone, "Chairman, I'm very sorry to interrupt you at this important meeting. There is a very urgent call here that needs to be transferred."

Shibata wanted to refuse, but for some reason he felt nervous.

"Okay, take it."

Then, there was a beep on the other end of the phone, followed by another female voice.

"Excuse me, are you Mr. Shibata, Chairman of Nippon Steel?"

"Yes, who are you?"

"I am Makoto Yamashiro, a clerk at the Tokyo High Court."

Tokyo... High Court?! A call from the Tokyo High Court?! The sudden change caught everyone off guard. Why would the court call the company for no reason, and it was the Tokyo High Court? You know, the one level above the High Court is the Supreme Court.

The cases handled by the High Court are generally the most important cases in the country.

"Because the matter is quite important, we need to contact the chairman of the company." The voice of the Shancheng clerk continued.

"What's the matter?" Shibata replied.

"Recently, we at the Tokyo High Court received a bankruptcy petition against your company, Nippon Steel. After careful discussion, the Tokyo High Court decided to notify your company of the bankruptcy petition in accordance with the law. According to the law, the debtor must file an objection to the bankruptcy petition within seven days."

"We have forwarded the relevant bankruptcy application materials to you. The postal information shows that they have just been signed for by your front desk staff. For the sake of safety, our Tokyo High Court is now notifying you again by phone. On the seventh day, the court will hold a hearing on whether the court should accept Nippon Steel's bankruptcy application. Please attend on time."

Shibata was already frozen in place.

He still didn't react until the call was hung up.

Everyone in the conference room had a look of shock on their faces. At that moment, it was as if everyone in the conference room was cursed and turned into stone statues. After all, no one could have imagined that at this moment, a creditor would file for bankruptcy against Nippon Steel.

Moreover, this comes at a time when strategic investment and financing plans are about to be achieved!

Bankruptcy - If the application is successful and the bankruptcy procedure is initiated, it means that all existing plans will be interrupted! ! The bankruptcy procedure will exert an absolute control over Nippon Steel's assets. At that time, all legal disputes and lawsuits related to Nippon Steel will be under the jurisdiction of the Tokyo High Court, and all assets will be disposed of by the bankruptcy administrator appointed by the Tokyo High Court.

Everyone in the meeting room was unable to react to what was happening.

Suddenly, Nippon Steel began to face the initiation of bankruptcy proceedings.

Minister of General Affairs Terada was also stunned. He had never expected such a sudden change. Nippon Steel! This is Nippon Steel! Why didn’t the Tokyo High Court inform the Ministry of Economy, Trade and Industry in advance when it decided to accept the application? These damn old men!

Terada felt backstabbed by the court.

This feeling is like being betrayed!

Shima Miho and other bank representatives present also looked very unhappy. After all, Future Space's investment in Nippon Steel must be based on returns. Future Space's investment in Nippon Steel was also made under Terada's persuasion. However, the sudden move to bankruptcy procedures obviously meant that the investment recommended by Terada was a big risk, which was a slap in Terada's face.

The bank representatives were also caught off guard. If Nippon Steel was really at risk of bankruptcy, how could they raise new funds? They would have to withdraw loans immediately and protect the bank's assets as quickly as possible.

Among the many bank representatives, Mizuho Bank had the ugliest expression. You know, their new loan to Nippon Steel had just been deposited into their account, and it was a loan issued without sufficient collateral assets. If Nippon Steel really entered bankruptcy proceedings, then this loan would be completely wasted.

There was a sudden knock on the door of the conference room. When I opened the door, I saw that it was full of lawyers and accountants.

A company executive held up a thick stack of documents and said, "This... This is the bankruptcy application materials sent by the Tokyo High Court."

The administration's voice was already trembling.

This stack of materials was immediately opened.

Then, when everyone began to look closely at the bankruptcy application——

However, it was discovered that the people who submitted the application were actually more than 100 workshop contractors of Nippon Steel.

It was this group of small creditors who ended up coming up with the most destructive move.

This is an unacceptable result!

Future Space and all the major banks, all the emergency efforts over the past few days have turned out to be in vain!

As the executives in the room quickly flipped through the bankruptcy application materials, they were left speechless and completely speechless.

Once the bankruptcy petition is filed, the news can no longer be concealed.

The news that Nippon Steel had filed for bankruptcy spread across all major media outlets in a very short time. Nippon Steel's stock price continued to fall in a very short period of time, directly triggering a circuit breaker. At the same time, overseas dollar bonds continued to plummet. When seeing this news, almost all Japanese citizens could not believe that Nippon Steel, which carried the history of past economic booms, was actually going to go bankrupt.

In a moment——

This steel giant -

This behemoth——

Facing the imminent fall——

The truth is always so unpredictable.

However, it happened right in front of everyone's eyes. At first, people thought there was something wrong with the news. After all, in the past, Nippon Steel had encountered financial difficulties from time to time, but it had finally survived. This time, was it just that it was in financial trouble as well, but the media exaggerated the report and said that it was going bankrupt? Many news agencies only had a half-belief attitude when reprinting these rumors.

Finally, it was all settled.

In the evening, Nippon Steel announced through the Tokyo Stock Exchange that it had received a bankruptcy application from the Tokyo High Court.

(End of this chapter)