Film and Television World Life Record

Mr. Qu was a very shrewd businessman. Although he wasn't as familiar with the company's finances as Mrs. Qu, he still knew roughly how much cash flow the company had.

The gambling debts of over 200 million yuan cannot be repaid without funds being drawn from the company.

But what did he discover? The company's working capital, which was originally close to 400 million yuan, had dwindled to just over 200 million yuan, with more than 100 million yuan missing.

After his initial anger and shock, Qu's father could only manage a bitter smile. He knew who had done it, but what could he do?

Ignoring all advice, he planned to withdraw funds from the company to pay off his son's gambling debts of over 200 million yuan. As a co-owner of the assets, shouldn't Qu's mother be allowed to withdraw over 100 million yuan from the company for her daughter?

oppressive rule.

Moreover, this is marital property, and it's perfectly normal to leave it to their only daughter. On the contrary, he insisted on paying off the gambling debts of his son from his previous marriage using marital property, which actually infringed upon the interests of Qu's mother.

The other party was already being generous by not preventing him from redeeming Qu Lianjie, so how could he possibly ask them to return the funds?

However, Mr. Qu sighed. The company's cash flow was only a little over 200 million yuan. If all of it was used to pay off his son's gambling debts, the company would be finished immediately.

After much deliberation, Mr. Qu realized he had no choice but to sell all his assets, except for the company, and raise over 50 million yuan.

However, he is still 1.8 million yuan short of paying off his gambling debts. He has already disposed of all his assets and can no longer raise a single penny. In the end, he will have to resort to dealing with the company's working capital.

The company currently has 240 million yuan in working capital. If 180 million yuan is withdrawn, only 60 million yuan will remain.

Such a large company not only has various accounts payable, but also bank loan interest and various maturing bonds to repay.

Having 60 million in working capital is like walking a tightrope; the slightest misstep could lead to a broken cash flow, causing huge risks and even bankruptcy.

However, he couldn't abandon his son. If his son died, the Qu family line would end with him. What use would leaving behind billions of dollars in wealth be?

Thinking of this, Mr. Qu gritted his teeth and made up his mind.

At the same time, he couldn't help but comfort himself, thinking that as long as he managed the business carefully, the 60 million in working capital would be enough to keep the company running.

Give him two years to allow the company to recover, and the crisis will be over.

……

However, life is unpredictable, and it's impossible for everyone to have their wishes fulfilled forever.

Just as Qu Lianjie was redeemed, news spread that his father had drained the company's working capital to redeem him, despite owing over 200 million yuan in gambling debts in Macau.

This immediately caused quite a stir in certain circles.

What are banks for? They offer umbrellas on sunny days and remove them on rainy days; they always add flowers to brocade, but never charcoal in the snow.

Qu Family Company has total assets of several billion yuan, but net assets are only slightly over one billion yuan. The rest are all kinds of debts and loans.

Today, such a large company owes the bank so much money, yet its cash flow is only 60 million. This is outrageous.

To ensure the safety of funds and prevent the generation of non-performing loans, the banks that cooperated with the Qu family began to suspend or withdraw loans from them.

Sixty million in funds is just a drop in the bucket at this time. After holding on for more than half a month, the company's cash flow dried up.

The consequences of a company's cash flow drying up are self-evident.

The situation quickly spiraled out of control, leaving everyone stunned. Unable to pay for construction work and bank loans, they were sued by various banks and partners.

The company's various businesses came to an abrupt halt, its bank accounts were frozen, its assets were seized by the court, and Mr. Qu was also placed on the blacklist of defaulters.

From then on, things became quite simple. In order to recover the loan, the bank had Qu's company's various assets broken down and auctioned off to repay bank loans and bonds, as well as outstanding payments to various partners.

However, in this situation, all assets are sold at a discount, making it difficult to fetch a high price.

Although the company's assets worth billions of yuan were completely disposed of, there were still some outstanding debts. Naturally, it was not going to be left like that. The cash that Mr. and Mrs. Qu had taken from the company was also being targeted.

It's alright with Qu's father; most of the 1.8 million yuan in cash he took was done under the guise of company dividends, so the procedure was legal and it's difficult to hold him accountable.

To keep the more than 100 million yuan in cash that Qu's mother withdrew secret from Qu's father, she dared not use it as a dividend distribution method. All of those funds were secretly withdrawn by her under various pretexts.

If the company is still owned by the Qu family, then even if it's not compliant with regulations, doing this is naturally acceptable. Even if Mr. Qu finds out, he won't do anything to her, since he used all the money to buy a house for his only daughter.

However, the company is now insolvent and has been seized by the court. With so many banks and partners chasing after it for payment, this privately withdrawn money, which is not legal and compliant, and strictly speaking still belongs to the company's assets, has naturally attracted attention.

Under investigation by banks and courts, the flow of funds was quickly traced, and it was found that all of it had been used to buy real estate.

As a result, the houses that Qu Xiaoxiao had just acquired were quickly seized and auctioned by the court to pay off her debts. In addition, a portion of the funds that Qu's father had transferred from the company without using the guise of dividends also needed to be repaid.

Almost all of the Qu family's assets were seized, including their villa and cars, which were auctioned off by the court.

Qu Lianjie, who had just been redeemed, was also implicated. Over the years, he had run his company and suffered huge losses, not just from the losses, but also from the fact that much of it had been transferred out of his pocket for food, drink, and entertainment.

The company belongs to his father, so naturally no one is investigating. Now that the company owes so much money and has been seized by the court, with so many bank creditors chasing after it, the money he secretly transferred from the company, strictly speaking, still belongs to the company's assets and is naturally being watched.

After being sued by the company's creditors, the car, house, and other items were also seized by the court.

Qu Lianjie arrived in Shanghai penniless a few years ago, and returned to his hometown penniless a few years later.

The Qu family fell from grace. Qu Lianjie, who was already uneducated and incompetent, lost his money and couldn't adapt to the change in circumstances. He became a lowly clerk whom he used to disdain, and for a time, even survival became a problem.

He can only go back to his rural hometown to find his grandmother and continue to live off his parents, at least he'll still have food to eat.

Chapter 172 Ode to Joy: The Five Sisters Start a Business Together

That afternoon, Li Mu was reading and drinking tea on the balcony when there was a knock on the door.

He frowned, wondering who would be visiting at this hour.

The two people who come here the most are Fan Shengmei and Qu Xiaoxiao.

Fan Shengmei is impossible. Recently, the three of them have been extremely busy with their business, getting up early every day and not returning until late at night. The 996 work schedule is no longer enough; they've almost turned it into a 007 schedule.

At this time, Fan Shengmei couldn't possibly be home.

Qu Xiaoxiao is also unlikely to be involved.

A few months ago, as if she knew that Li Mu really had no intention of dating, Qu Xiaoxiao's enthusiasm for him dropped a lot, and she also studied foreign languages ​​with Li Mu less often.

Until her brother Qu Lianjie got into trouble, and the whole family was in jeopardy, Qu Xiaoxiao no longer wanted to put on a show and live in Ode to Joy. The family assets and company were almost gone, so what was the point of fighting for it anymore?

Since that day, she has rarely returned to the Joyful Song residential area, and it is said that she has been living with Qu's mother ever since.

Therefore, it is unlikely to be Qu Xiaoxiao.

But if it's not one of those two, then who else could it be!

Li Mu was a little puzzled, so he went over and opened the door.

"Brother Li Mu!" A pretty figure rushed over with tears in her eyes.

"Xiaoxiao, what brings you here?"

Qu Xiaoxiao nestled in Li Mu's arms and said aggrievedly, "Brother Li Mu, something happened to my family."

Li Mu said, "I heard about it, but unfortunately I couldn't help."

Li Mu was telling the truth. After the Qu family's company went bankrupt, it would take at least a billion yuan to save it. If he were to pool his resources, he could raise that much money.

But now is a critical moment for Origin Technology's financing, and every penny Li Mu has is a source of confidence in negotiating with investment institutions. He can't afford to divert more than a billion yuan for Qu Xiaoxiao, throwing himself into disarray and affecting Origin Technology's financing negotiations.

Moreover, this is the Qu family playing with fire themselves, so they can't blame anyone else.

Qu Xiaoxiao nestled against Li Mu's chest, grieving for a while, before finally raising her head and saying softly, "Brother, I've come to say goodbye."

Li Mu asked in surprise, "What's wrong? Where are you going?"

Qu Xiaoxiao's eyes were red as she said, "Everything is gone. Our family has lost everything. Even the apartment upstairs has been seized and auctioned off by the court. I can no longer live in Ode to Joy, and I can no longer see Brother Li Mu."

As she spoke, tears streamed down her face.

Li Mu didn't know if Qu Xiaoxiao was faking it, deliberately trying to elicit his sympathy, or if it was a genuine expression of emotion. But one thing was true: the Qu family had indeed lost everything.

The apartment 2203 upstairs was originally bought by Qu Xiaoxiao with money borrowed from Yao Bin. However, after Yao Bin suffered a major setback, he left his inner circle and rarely contacted Qu Xiaoxiao anymore.

Qu Xiaoxiao was very perceptive; she took some money from her mother and used it to pay back the money she had borrowed.

Unfortunately, the money from Qu's mother was embezzled from the company, and based on the flow of funds, the court also seized the house number 2203.

Looking at the pitiful Qu Xiaoxiao in front of him, Li Mu asked, "If you're not staying here, where are you planning to go?"

Qu Xiaoxiao shook her head: "I don't know either. All the houses in my family are gone, and all the money is gone. I'm living in a small hotel with my mother now."

"I received a notice from the court today that 2203 has been auctioned off. I'm here to pack my things and also to see Brother Li Mu again."

Li Mu said, "Where's your dad? Why are you and your mom staying in a cheap hotel?"

Mentioning her father, Qu Xiaoxiao's eyes reddened again.

“My dad divorced my mom a couple of days ago. He took on the remaining debts and went back to his hometown.”

"Now, only my mother and I are left in Shanghai. All our savings have been seized by the court to pay off debts. We don't even have enough money to pay the deposit for renting a house. We can only afford to stay in a small hotel for a while."

"Brother Li Mu, our family is gone, we have nothing left. You won't despise me, will you?"

As she spoke, tears streamed down her face again, and she hugged Li Mu tightly with both hands, as if she wanted to be attached to him.

Li Mu patted her on the back: "How could that be! You've suffered a lot these past few days, haven't you? What are you planning to do now?"

Qu Xiaoxiao glanced at Li Mu cautiously, her expression somewhat uneasy: "I don't know either. The subsidiary company I used to manage has been auctioned off by the court to pay off debts, and now I've even lost my job."

“My education is also not good. I only went to high school in China and attended a diploma mill abroad. It’s hard to even find a decent job.”

“I used to laugh at Sister Fan and Yingying, and I would point fingers at them. Now I know how hard they worked, and I understand why Sister Fan cares so much about money. Now I care about money even more than she does, and I understand the importance of money.”

"Without money, my mother and I are struggling to survive. If we run out of money in the future and can't find jobs, we might end up on the streets."

As she spoke, she revealed a pitiful expression, snuggling against Li Mu's chest and gazing at him expectantly.