Tokyo Barrister: Start the law firm bankruptcy

Chapter 904: Eto's Strategy

After the trial, Nippon Steel, the bank, and Future Space listened to the report from Tamashiro and others. The top executives were really shocked by the changes in this case. The Tokyo High Court is very likely to rule that the bank's debt offset is invalid, which means that the last line of defense to protect the bank's creditor's rights has also been defeated by the lawyer Kitahara.

The main representatives of the bank fell silent. If the creditor's rights lost any protection, they would not be able to invest any more money to save Nippon Steel. Any rational bank executive would not approve such a decision to throw money into the fire.

Nippon Steel is completely finished.

This is already a consensus among those involved in the Nippon Steel bankruptcy.

Soon, the latest news of the case also spread to the press. Newspapers, television stations, and magazines all gave a shocking headline: "Banks stop arranging future financing for Nippon Steel." The subtitle was: "Strategic investors are forced to wait and see."

Many people still don’t believe this happened.

After all, Nippon Steel is a memory in the hearts of the Orientals.

It is a symbol of the Toyo steel industry.

How could it really go bankrupt? Someone would have to come to the rescue, right?
Few people know that behind this big turmoil is a lawyer named Kitahara. Nippon Steel, the bank, and the bankruptcy lawyers were all helpless against this young lawyer. They watched helplessly as this lawyer pushed for bankruptcy proceedings, then revoked the bank's mortgage and debt offset. Every step blocked Nippon Steel's plan.

Minister of General Affairs Terada naturally took note of the young lawyer's name. In his office, he cursed Kitahara more than once, calling him a traitor who had repeatedly frustrated the self-rescue plans of the Japanese steel giant. However, Terada still did not give up and was still moving around looking for opportunities to save Nippon Steel.

At this time, it is 11:13 pm.

The headquarters building of Future Space, the CEO's office.

Shima Miho also felt unprecedented pressure. Kitahara's lawsuit for rescission once again disrupted her pace. Without the bank's financing plan, Future Space would not be able to invest in Nippon Steel and acquire the minerals owned by Nippon Steel.

Future Space is a listed company. Any major investment decision also needs to be approved by the board of directors. Without the bank's financing, the investment in Nippon Steel would most likely not be approved.

In this case, it will be difficult for the organization to realize its plan to acquire the rare earth mines in Nippon Steel.

Shima Miho sat in her office chair, took out her phone and called Eto.

The phone made a "beep, beep, beep" sound.

Then, pick up.

Without thinking too much, Shima Miho complained to Eto directly, "That Kitahara! The Kitahara from your law firm! He turned things upside down, you know!! The bank's financing plan couldn't go on because of him!!"

On the other end of the phone——

Eto sneered, "Shima Miho, this is not like you normally. Normally you wouldn't be so anxious and flustered."

"If the bank doesn't get involved, we won't be able to acquire Nippon Steel's mines in the future, and the organization's plan won't be achieved!" Shima Miho warned.

"As long as the organization wants to do it, there is nothing it can't do." Jiang Teng said, "There is no such thing as failure in the organization's plans."

"But... how do we deal with the current situation?!" Shima Miho said, "I specifically looked at the bankruptcy documents related to Nippon Steel. The means that can guarantee the bank's creditor's rights have been blocked by that lawyer Kitahara. Now there is really no legal means to stop him!"

"Mr. Eto! Aren't you a lawyer? What can you do?" Shima Miho asked anxiously. Shima Miho is a person who believes in the organization wholeheartedly.

Although she is a scientist, she believes in the organization's great desire to purify the world.

Just as physicist Newton was obsessed with alchemy, so was Shima Miho.

"In a case like Nippon Steel, the law is not the first consideration."
"How do we do that? Could you please tell me?"

"The solution to the problem is not with the bank," Jiang Teng said. "From the beginning, you got the point wrong. You thought that by preserving the bank's debt, you could get the board of directors of Future Space to approve the strategic investment proposal. It is precisely because all of you focused on the bank's debt that you were led by Kitahara by the nose."

Shima Miho was actually surprised when she heard what Eto said.

Was my approach wrong from the beginning?

But what should we do if we don’t protect the bank’s debt?
"Then what..." Shima Miho asked hesitantly.

"The key to the entire Nippon Steel bankruptcy incident lies in the labor union." Eto said in a cold voice.

"Union?"

"Yes." Eto continued, "Nippon Steel directly employs more than 70,000 industrial workers. The rest of the workers who are dispatched are even more numerous. From the very beginning, the union was the real driving force behind the outcome of the matter."

"Mr. Eto, do you mean that the Cabinet is afraid of the massive unemployment caused by the bankruptcy of Nippon Steel?"

"Of course." Jiang Teng laughed a little coldly. "Massive unemployment means potential turmoil. The cabinet cannot sit idly by. They must take extremely strong measures to attract investment and ensure the employment of existing workers. This is our opportunity. How much do you know about the actions of the labor union?"

"All I know is that their strike ballot deadline is coming up."

"This strike is an opportunity," Eto said briefly.

"In other words, we want to take advantage of the union's strike?" Shima Miho suddenly realized after hearing Eto's advice. Indeed, she was going in the wrong direction. She had been struggling that only by keeping the bank's debt could she inject liquidity into Nippon Steel, so that she could smoothly invest in Nippon Steel in the future.

But who can sit idly by if the threat of a union is so real?!

Shima Miho understood what Eto meant.

In short, they want to take advantage of the union strike to fish in troubled waters.

Make things bigger.

Indeed, the issue of priority of claims between the court and the bank is just a formal legal issue. The banker is a big business, and even if the claims on Nippon Steel were lost, at most it would only make the balance sheet look bad.

However, if the livelihoods of tens of thousands of workers are involved, it is no longer a legal game on paper. Instead, a true balance of interests must be made. Even a judge would not dare to decide such a matter with a simple ruling!

Eto pointed out another way to solve this case to Shima Miho...

(End of this chapter)