Tokyo Barrister: Start the law firm bankruptcy

Chapter 888 Preacher

Miyakawa's eyes quickly scanned the verdict. Niwa, who was standing by, couldn't wait and couldn't help asking, "What was the result? What was the court's decision?"

Turning to the last page, Miyakawa was stunned for a moment, then suddenly, a look of joy appeared on her face, and her hands unconsciously waved the judgment:
"The Tokyo High Court agreed to our request to revoke the bank's mortgage rights!!!"

"What!! That's great!" Niwa was also excited.

The Tokyo High Court, today——

All guarantees established by the bank one year before the bankruptcy ruling was officially revoked!
The Kitahara side finally achieved its first hard-fought victory in the Nippon Steel case!

Such a verdict naturally caused a great shock to Nippon Steel and the bank. When Nippon Steel received the verdict, the shirts of the three lawyers, Tanimoto, Tamashiro, and Abe, were soaked with cold sweat. They did not expect that the Tokyo High Court would agree to Kitahara's lawsuit request.

What a mess! What a mess! After seeing the verdict, Tanimoto cursed loudly in the office. Tamashiro threw the copy of the verdict on the ground with a "smack" and was about to step on it with her high heels. After receiving the verdict, Abe simply fell into silence, as if in a daze.

However, the report of the defeat must also be presented truthfully. Nippon Steel's chairman Shibata and financial director Nagai were also surprised after seeing the verdict. The bank's mortgage right was revoked, which meant that Nippon Steel could no longer raise funds from the bank. Without the guarantee of cash flow, Future Space would also stop strategic investment.

Everything that was done before has become in vain!!
Such a verdict immediately caused a split among the top management of Nippon Steel.

Some senior executives of Nippon Steel who were dissatisfied with the company's management strategy in recent years approached General Manager Uejima, hoping that he could come forward to rectify the current chaotic situation of Nippon Steel. Voices began to be heard within Nippon Steel, believing that Nippon Steel had fallen into its current situation because of Chairman Shibata's abuse of external financing.

Managing Director Uejima still maintained a subtle silence. Whether he had the ambition to climb to the position of chairman of Nippon Steel or not, he certainly had it. And now was the opportunity. However, Uejima was a cautious person and he would not act too early. You know, Nippon Steel was still leaking from all sides and the ship was about to sink. It was not a good thing to take the top position of the company too early. Only when Nippon Steel had hope of restructuring, would Uejima make a move for the position of chairman.

The representatives of the banks were also shocked when they received the verdict. They immediately asked for the opinions of their legal teams. Suddenly, the legal departments of these big banks were busier than ever before, with phones ringing and fax machines beeping everywhere.

The mortgage was cancelled.

This means that almost all of Nippon Steel's previous loans to banks have become unsecured claims.

They consulted external law firms to see if there was any chance of a turnaround in the case.

However, the responses were all similar:

In a case of the magnitude of Nippon Steel, once the first instance court makes a decision, it is almost impossible to change it in the second instance court. The result is set in stone and cannot be changed even by appeal.

The banks felt an unprecedented sense of crisis. Losing their mortgage rights not only meant that their claims were not protected, but also that their voices would carry less weight in the subsequent creditors' meetings. Everyone was a creditor who could only be paid in proportion, and no one had priority in being paid.

Some people in the bank also noticed that Kitahara had previously served as a consultant lawyer for the Financial Services Agency, responsible for investigating the Yoshizawa Trust case of the Tokyo Central Bank. Suddenly, urban legends about Kitahara emerged in the bank. Although Kitahara was just a young man, under the exaggeration of the legend, he became a dark and cunning middle-aged lawyer who, for some unknown reason, held a hatred for the bank and ran to the bank for revenge!
No mortgage rights.

The bank officially cut off all cash support to Nippon Steel.

The bank was also extremely worried at this time. If the debt without collateral was recorded as bad debt, the bank would have to make a huge amount of reserves, which would have an unprecedented impact on the bank's profits. All of a sudden, the bank's financial department was mobilized to calculate the debt hole that Nippon Steel might cause.

At this time, the big banks were all in a panic because of Kitahara's judgment.

The Minister of General Affairs, Terada, also received a copy of the Tokyo High Court's verdict. He had never expected that things would suddenly take such a turn for the worse. He stared at the verdict for nearly five minutes before reacting. As a senior expert who had been in charge of bank supervision, Terada knew what the bank would do without the guarantee of Nippon Steel. His previous plan was completely ruined.

Without bank financing, nothing can be achieved!
Everything has become a dream bubble!!!

Terada never thought that a group of workshop contractors who came out of nowhere could turn the huge Nippon Steel Group upside down like this! How could this be possible!
Terada almost lost control of his emotions and was about to smash the cup on the table to the ground!
Shima Miho, CEO of Future Space, was also stunned after learning of the Tokyo High Court's ruling. Without bank financing, there would be almost no possibility of securing any strategic investment in Future Space.

However, Shima Miho in the office gave a somewhat cold look.

This strategic investment——

Shima Miho certainly didn't want any of Nippon Steel's special aerospace steel.

In fact--

Of course, there are other plans for the future space.

But now the plan has been disrupted.

In the office of the future space, Shima Miho looked at the judgment of the Tokyo High Court, fell into deep thought, and began to think about the next strategy. The sudden change also forced Shima Miho to think about it.

After a while, Shima Miho's cell phone suddenly rang.

I answered the phone and a voice came from the other end——

It's a male voice.

If Kitahara heard this at this moment, he would probably snatch the phone away immediately.

Because, this voice is not someone else——

Exactly—

Eto! ! !

Yes, Eriko once said that there was an evangelist in the organization during the bankruptcy of Nippon Steel.

This evangelist is Shima Miho of Future Space!!

This legendary space company CEO and female scientist——

He is actually a member of the organization!!!

(End of this chapter)