Tokyo Barrister: Start the law firm bankruptcy

Chapter 911 Yucheng's Final Statement

Morning, 9:30.

Tokyo High Court, Court No. 607.

Judge Ohno Tsutomu once again sat on the bench. He had never expected that there would be so many lawsuits in the Nippon Steel bankruptcy case. Judge Ohno Tsutomu obviously felt the pressure of the case. Previously, the cabinet sent a commissioner to participate in the judges' meeting of the court to explain the situation of the Nippon Steel case.

Of course, in order to avoid suspicion, I did not participate in this meeting as the presiding judge.

But Judge Oono Tsutomu was also able to understand the cabinet's implicit meaning.

In fact, other judges in the Tokyo High Court also complained about whether Ono Tsutomu's trial pace in the Nippon Steel case was too fast. In a sense, Judge Ono Tsutomu hated this kind of interference. However, many times, people have to bow their heads under the eaves.

Because this case not only involves Nippon Steel's business operations, but also involves the placement of a large number of its employees.

This is a very troublesome problem for any judge.

In addition, public opinion has also begun to put pressure on the court. Daily news and television broadcasts are all watching the court's latest actions. There is no doubt that no matter how the decision is made, there will always be comments questioning the court.

Judge Oono Tsutomu took a deep breath and then looked ahead.

In the courtroom, Kitahara and others had already taken their seats.

Kitahara and Miyakawa sat in the plaintiff's seat.

Tamashiro, Tanimoto, and Abe sat in the dock.

This is the final battle between the two sides.

Judge Ohno Tsutomu said, "Before the hearing of this bankruptcy recovery right, the parties had already exchanged evidence in the pre-court meeting. Therefore, today, all parties can summarize their respective views and express them in a unified manner. Now, defendant's attorney, please express your opinions."

Today's trial is, in a sense, the final statement.

This is the end of the tug-of-war in Nippon Steel's bankruptcy case after rounds of bankruptcy.

After hearing this, Yucheng stood up.

The female bankruptcy lawyer said, "Chief Judge. Nippon Steel has entered bankruptcy proceedings. After days and nights of negotiations and consultations, the reorganization plan has been completed under the auspices of the Cabinet Working Group. Now, this large steel company has finally ushered in the moment of rebirth."

"But in this case, the bankruptcy recovery lawsuit filed by the plaintiff interrupted the process of Nippon Steel's rebirth. The plaintiff's recovery lawsuit has no reason to stand at all."

"First, the production equipment and production lines that the plaintiff requested to be taken back have in fact been installed and fixed in the factory and have become part of the real estate attachments. The property rights of real estate attachments are determined in accordance with the property rights of real estate. When these production lines and production equipment are attached to the factory owned by Nippon Steel, their property rights status also changes and belongs to Nippon Steel."

The bankruptcy lawyer patiently said, "It's like when the decoration materials are embedded in the house and become part of it, the property rights of the decoration materials are annihilated and incorporated into the property rights of the real estate." "Of course, this does not mean that the workshop contractors cannot get any compensation for their investment. It means that they no longer have the property rights to the production lines and large-scale production equipment involved in the case. They can still ask for compensation. But not in the form of bankruptcy recovery rights, but they should be compensated equally in accordance with the law in the bankruptcy procedure like other creditors."

"Secondly, regarding the plaintiff's claim for the right to recover the monetary funds, there has never been a case in the practice of bankruptcy law where the right to recover the money was exercised. The plaintiff's claim violates the basic legal principle that 'the transfer of money is the transfer of ownership'."

“Changes in the ownership of money must be based on delivery.”

“No delivery occurs, and there is no change in ownership of the money.”

"In this case, the settlement funds that the plaintiff requested to retrieve were all deposited in Nippon Steel's bank account. Therefore, the ownership of the currency has not changed and the ownership of the funds still belongs to Nippon Steel. The plaintiff has no basis for exercising the right of bankruptcy recovery!"

Under the dismantling of Yucheng——

Each of Beiyuan's requests was precisely cut.

Every rebuttal hits the mark.

The audience in the audience could not help but be moved by Attorney Yucheng's concise and to-the-point speaking style. Many of the listeners nodded subconsciously.

"However, today, as the defendants, we want to express more than just legal opinions. We also want the court to pay attention to the value orientation of this case."

"It is inevitable for a company to encounter operational difficulties. No matter how carefully you steer the ship, it will eventually run aground," said Yu Cheng. "Why, when a company is in trouble, are we unwilling to lend a hand and provide assistance?"

"In the market competition, the strong prey on the weak. The business world often adheres to the ruthless rule of survival of the fittest. However, in today's era, can we maintain some warmth? Can we be more compassionate? Can we sympathize with those who lose in the market competition and give them some care and support?"

"This is the case with Nippon Steel. The operational difficulties of Nippon Steel were actually caused by a number of uncertain factors, not all due to its own lack of efforts. In this case, the restructuring plan has been formulated, the funds of strategic investors and banks are ready, and Nippon Steel's business chapter can open a new chapter at any time."

"Now, because of the exercise of bankruptcy recovery rights, the reorganization process has been interrupted and the plan has to start all over again. Is it worth it? Do we want to ruin a bright future for a company that may be reborn because of this obviously insufficient lawsuit?"

Yucheng's speech has a gentle and tenacious charm.

The speech in court was touching and full of humanistic compassion.

"After the promulgation of the Bankruptcy Law, my country also promulgated the Civil Rehabilitation Law. This shows that my country's laws have a clear attitude towards saving bankrupt enterprises and encouraging restructuring and regeneration. In this case, the plaintiff's exercise of the right of recovery not only has no legal basis, but also has no practical benefits. Allowing the plaintiff to exercise the right of recovery will lead to a complete interruption of the restructuring process and lead to an extremely bad demonstration effect, so that similar creditors will use the right of recovery instead of the normal bankruptcy compensation procedure to protect their claims."

"For a reorganized company, every minute and every second counts. The sooner the reorganization is carried out, the greater the possibility of the company's recovery. Considering the current situation of Nippon Steel with nearly 90,000 industrial workers. As the defendant's attorney, I implore the court—"

"In this cruel winner-takes-all era, I wish there was a little more mercy."

"That's all. That's all."

(End of this chapter)