Tokyo Barrister: Start the law firm bankruptcy

Chapter 887 Melee

In the courtroom, everyone's eyes were fixed on the lawyers of both sides. At this moment, their debate would determine whether the bank's huge mortgage rights could be established. Kitahara and the three lawyers of the other side continued to fight fiercely, back and forth, and the debate in the court was extremely fierce. After all, this was about the legality of the bank mortgage of tens of billions of yen, or even hundreds of billions of yen.

Think about the devastating consequences it would have on banks if this legitimacy were denied.

At the end of the fierce battle, Tanimoto, Tamashiro, and Abe were so tired that sweat broke out on their foreheads, and they had nothing new to say or express.

"Does the bankruptcy administrator have any additional comments regarding the right of rescission?" Judge Oono Tsutomu looked at Kitahara and his group.

"I have an additional request." Kitahara suddenly said at the end.

Instantly, everyone had to look at the lawyer nervously. The bank's executives also swallowed their throats unconsciously, not knowing what would happen next.

Tanimoto and others were also stunned for a moment, not knowing what this young lawyer would do next.

Kitahara took out another stack of documents, "Chief Judge. This is the document that Nippon Steel guarantees for several companies outside the group. These guaranteed companies also borrowed money from banks. This is Nippon Steel's hidden debt. These illegal guarantees should also be revoked!"

Kitahara also exposed another problem of Nippon Steel.

In order to cover up the fact that they lent too much money to Nippon Steel, the bank lent another part of the funds to companies outside the Nippon Steel Group. Although these companies had nothing to do with Nippon Steel on the surface, they were actually controlled by Nippon Steel and had control over the funds. Then, Nippon Steel provided guarantees for these companies, thus covering the debts in disguise.

These debts appear to exist outside the Nippon Steel system, but in fact they are also part of Nippon Steel's debts. They are just covered up in this way.

Now, Kitahara asked the court to revoke all the guarantees made by Nippon Steel to other parties.

What?! Hearing Kitahara's words, Yu Cheng's eyes widened. She didn't expect Kitahara to dig this deep. Today, this trial is not only about the bank's mortgage rights. Even this part of the hidden bank debt must be eradicated. This Kitahara is simply going to kill the bank!!!

The bank executives in the audience could not help but look heavy-hearted. To be honest, this part of hidden debt was the bank's last resort. If anything really happened, the bank could still recover part of the money through this part of the external guarantee of Nippon Steel.

However, now even this road is going to be cut off at the root!!

Why is this lawyer only targeting banks?

Kitahara continued while holding the materials, "These companies outside the Nippon Steel Group borrowed a large amount of money from the bank, and then invested the bank funds in the production and operation of the Nippon Steel Group. Since Nippon Steel provided guarantees for the bank debts of these companies, this actually transferred the bank's interest-bearing liabilities outside the balance sheet of Nippon Steel!"

“This is a serious financial violation!”

“Dishonest accounting practices!!”

“This is a major concealment of the company’s operating conditions!!”

Kitahara issued a series of accusations.

The executives of Nippon Steel and the bank in the audience suddenly turned pale. These workshop contractors not only wanted to revoke the bank's mortgage rights, but also wanted to expose these illegal operations!

"Chief Judge!" Yu Cheng felt that things were getting worse, and immediately stood up and refuted, "The new requests and new evidence raised by the plaintiff are not included in the original lawsuit. I request that the trial be postponed for the defense."

Yucheng and others were helpless and could only find fault with the other party's procedures.

Ask the court to grant a reply period.

Judge Ohno Tsutomu nodded in agreement, then looked at Kitahara and the others, "You have filed a new claim. According to the Civil Procedure Law, a new claim must give the other party time to organize a defense and collect rebuttal evidence. Therefore, this trial will not deal with the new claim you just raised."

Kitahara expressed his approval of the judge's decision. In fact, the new request to revoke Nippon Steel's external guarantees was not Kitahara's real purpose.

The real purpose was to make the judge feel the financial chaos of Nippon Steel's external borrowing. The more lax the internal management of the enterprise and the more loopholes there are, the greater the possibility of revoking the bank's mortgage right.

This is where Kitahara is betting.

Soon, the court announced the end of the trial. As the gavel fell, the judge left the court.

Everyone present felt relieved, finally freed from the tense trial. What will the judgment of this mortgage be like...

……

……

……

A few days later, at Eto Law Firm.

"Kitahara! Received an email from the Tokyo High Court!" Miyakawa shouted at the door of the law firm.

The Tokyo High Court did not slow down the pace of handling the Nippon Steel case. These senior judges certainly have their own calculations. If a major issue like whether the bank's mortgage is valid is not properly resolved at the beginning, it will have a negative impact on the subsequent creditors' meeting of Nippon Steel.

Therefore, the court accelerated the pace of processing.

Subsequently, Kitahara and others held a second court session, and the Tokyo High Court announced that it would send a written decision on the cancellation of the bank's mortgage.

And the email I received today is obviously the verdict.

Miyakawa quickly took the email to the office lobby of the law firm and placed it on Kitahara's desk. Niwa, who was standing next to him, also stood up, wanting to know the result.

The yellow-covered email was lying on the table.

Just tear open the envelope.

You will be able to know the result of the court's judgment on the bank's mortgage rights.

This was Kitahara and his team's first step in the Nippon Steel bankruptcy case.

If they lose this step, then it will be almost impossible to do anything else in the future. The bank mortgage has completely salvaged the assets of Nippon Steel, and it is impossible for their workshop contractors to get some of the residue.

Miyakawa felt his heart beating fast, and he was even a little afraid to open the email.

"Open it." Kitahara said as he looked at the email. "I think Nippon Steel should have received this email as well. I guess their lawyers are studying the court's ruling right now."

Miyakawa nodded, then carefully tore open the letter with a "swish".

A white booklet appeared inside.

Because Nippon Steel had a lot of assets, the court's judgment had to be bound, otherwise there would be too many pages and they would easily fall off.

Miyakawa immediately read it carefully...

(End of this chapter)