Tokyo Barrister: Start the law firm bankruptcy

Chapter 896: Beiyuan's Advance

The meeting at Rigang was still going on intensely, but soon there was a hurried knock on the door. It was the legal department that hurriedly pushed the door open. The legal department looked anxious, and it was obvious that they had encountered a situation that they had to report, so they had to interrupt the meeting even if it was attended by important people.

Terada and others in the conference room were still having an intense discussion, preparing for the next countermeasures. Suddenly, they saw the busy legal affairs, and they didn't know what was going on.

"Another lawsuit! The bankruptcy administrator filed another lawsuit!!" the legal department reported.

"What are you suing for? Is it that lawyer Kitahara's fault?!" After hearing this, Yucheng stood up immediately.

"Yes! He asked the bankruptcy administrator to file a civil lawsuit, demanding the cancellation of a large number of contracts previously signed by Nippon Steel. They believe that these contracts constitute a gratuitous transfer of Nippon Steel's property!"

When everyone at Nippon Steel was still thinking about how to deal with Kitahara and others using criminal procedures to block the arbitration process, Kitahara and his team took the initiative to attack. The materials Niwa collected before showed that Nippon Steel transferred many assets and funds at extremely low prices.

Therefore, Kitahara used Niwa's materials to further press his case - demanding the cancellation of these unreasonable contracts.

"Haven't they already filed a criminal complaint?" said Shima Miho from the future space. "Since our arbitration case has been suspended, on what basis can they still file a lawsuit with the court and exercise their right of revocation?! Is this legal system his? He owns it whether he uses it right or wrong?!"

Shima Miho felt vaguely angry.

If Beiyuan is allowed to continue to act recklessly, the organization may not be able to obtain the mining property rights it wants.

Hearing the anger in Shima Miho's voice, Tamashiro immediately explained:

"That's right, Ms. Shima Miho. The court accepting the case and the court suspending the trial are two different issues. There are criminal cases under investigation, and the related contract disputes will be suspended due to suspicion of contract fraud. However, suspending the trial does not mean refusing to accept the case."

"That is, the Tokyo High Court will still accept the lawsuit filed by Kitahara and others." Tamashiro continued, "It is very likely that the court will issue a notice to suspend the trial after an initial prosecution and defense."

"So, we still have to continue to deal with the lawsuit filed by this lawyer Kitahara, and we still have to sit in the courtroom and prepare to defend ourselves?!"

"Yes... yes." Tamashiro replied.

However, as soon as he finished speaking, Yucheng could only bite the bullet and add, "However, some of the contracts that Kitahara encouraged the bankruptcy administrator to cancel may not necessarily be related to the bank. This means that we are not parties involved and can only sit in the audience and watch Lawyer Kitahara..."

"What!! That means, this time, we don't even have the right to defend ourselves?!" Shima Miho said in disbelief.

“Yes…Yes, because we are not necessarily parties to these contracts.”

At this time, the legal department distributed the new prosecution materials of Kitahara and others to everyone in the conference room.

Chairman Shibata, Financial Director Nagai, and Managing Director Uejima were all shocked when they saw Kitahara's indictment materials. Because these indictment materials were all related to their private corruption, such as purchasing raw materials at abnormally high prices.

When did this lawyer find out this? !

These executives of Nippon Steel knew that the increasingly difficult operating conditions of Nippon Steel were related to their corruption. Although their names were not mentioned in the indictment materials, the contracts that were requested to be revoked were all related to them. Shibata and others looked at the materials in their hands and couldn't help but sweat. The hands holding the paper trembled slightly. If the other party could find these, then they would definitely be able to find out that they were behind these unreasonable contracts.

The development of the matter was beyond the imagination of the top executives of Nippon Steel. They had been living a peaceful life for more than ten years, constantly asking for money. When they ran out of money, they asked for subsidies or loans. In short, relying on the name of Nippon Steel, they could always get a lot of funds.

Therefore, these monies eventually became the target of corruption among Nippon Steel executives.

Even if Nippon Steel went bankrupt, these executives were not worried at all. They had already made all the money they needed, so what would bankruptcy have to do with them? On the contrary, they would be even happier if new investment, subsidies or aid came in after the bankruptcy process was initiated.

But now these days of sitting back and relaxing on the throne have been disrupted.

A group of workshop contractors, the characters that the executives once looked down upon, are now able to stir up trouble and set the fire on them!!
Previously, the contract fraud case reported by lawyer Kitahara was said to involve many middle-level managers, and some of them have begun to be taken away by the Tokyo police one after another.

Therefore, it is impossible for Shibata and others not to feel nervous.

However, right before their eyes, they watched the situation gradually begin to be reversed bit by bit.

How to do? !

They can’t hire a lawyer!!

Shibata and other senior executives in the conference room were thinking about their own things.

Minister of Internal Affairs and Communications Terada and bank representatives were wondering whether it was still possible to preserve the bank's claims and push forward the strategic investment plan that was on the verge of abortion.

"Besides mortgage guarantee, is there any other way to preserve the bank's debt?" Terada looked at the three top bankruptcy lawyers in front of him.

"Now that the bankruptcy procedure has been initiated, the company's official seal and bank accounts are all in the hands of the bankruptcy administrator," said Tanimoto. "Under this situation, it will be difficult for us to transfer assets or set up mortgages. At present, all payments by Nippon Steel, except for wages, have been completely suspended."

Tanimoto talked about the current difficulties.

Indeed, it seems that Nippon Steel has no other way to keep its bank debt.

If the priority of bank debt is not guaranteed, bank funds will not be injected.

Then, Nippon Steel will really face bankruptcy.

"Is there really no solution?!" Terada slammed his fist on the table in a rare moment of disgrace. He had not slept well since the Eriko incident. It seemed that the strategic cooperation between the bank and Future Space and Nippon Steel had finally been put together, but now things could not move forward at all. What should I do? !

"There is another way..." Yucheng's voice sounded.

(End of this chapter)