6 Banks
When it comes to the area that Lin Yilong is best at, it is neither corporate mergers and acquisitions, nor land sales, but debt claims and ticket transfers. Both are closely linked to the banking industry.
As a result, he has established a number of personal relationships with Alan Binghamton's largest client, Middlesex Bank, and one of the largest in Britain, and although these contacts do not provide him with certain privileges, they still provide him with some work conveniences.
In big banks, the legal managers are also licensed lawyers, and the corresponding job assistants are similar to those of senior assistants in law firms - the salary is similar to Lin Yilong's 90,000 pounds a year, although there are overtime hours, but definitely not as frequent as law firms - sometimes at a certain law society party, several law firm assistants and several corporate legal managers will also get together to blow x water and get acquainted with each other. As much as Mr. Lin enjoyed such gatherings and listened to new ideas from lawyers in other professions, he was unable to join the crowd — not a factor in his lack of alcoholic beverages in addition to cultural differences — so much so that he was able to find someone to meet in the crowd that he had returned home early.
Mr. Lin's resignation was replaced by a "leave without pay" proposal proposed by partner Mr. Davis, in which the law firm would stop paying his salary, insurance and pension contributions, but would retain his qualifications to practice law here, while also requiring him to provide legal services to the firm in the form of "return to practice" from time to time. According to Alan Binghamton's separation rules, Lin will not do so until six months after the decision to leave without pay, so that the law firm can find the necessary personnel to take over his work. Therefore, in general, Lin Yilong did not succeed in resigning and continued to do his job in the next few months.
After the morning meeting, Lin Yilong sent a preliminary conclusion to the legal department of Middlesex Bank: the collateral of the tourism company that was about to take over the abandoned mine town had no ability to repay the bank loan, and suggested that the bank directly suspend the loan audit. Generally speaking, the initial opinion of the law firm will be accepted by the bank, because the conclusion reached by the lawyer at the beginning must be very simple and intuitive, which can save the bank's operating costs. But it appears that Middlesex Bank was keen to broker the deal and find a blame for the uncollectible claims — the travel company was in a much better financial position than the woodlands at the foot of the unmallable Bracken Hills, and was more likely to repay the bank loan — and the bank's legal director insisted that Davis and Lin Yilong write down the reasons for their preliminary conclusions.
This time, Lin Yilong had to make an appointment after a tea break to meet with John Stewart, a slightly personal acquaintance with John Stewart, the legal manager of Middlesex Bank in London.
"I want to buy the town land in West Gra Morgan on my own behalf, is your bank interested in matching me up?" After the usual pleasantries and gossip, Lin Yilong sat across from John Stewart's desk and asked, "Acquire it directly at the current price." ”
Mr. Stewart looked at Lin Yilong directly, and it was obvious that the news shocked him. To confirm what he had just heard, he asked, "Please repeat it?"
"I said, I personally contributed to buy the creditor's rights of this land at the market price, would you like to establish a connection with the relevant people in that town for me?" Lin Yilong looked at him and repeated word by word.
Reaffirming what Lin Yilong said, Mr. Stewart fell into deep thought.
"Obviously, the company's acquisition plan is not going to be funded directly in the short term, and you need to lend them a small amount of money to cover their development plan, but the company has nothing of value other than its office in Canadian waters. I'm sure if you give the Bristol branch legal department a while, and they will come to the same conclusion. You see, as a sign of good faith, I bought it in cash, and the funds are in my personal account with your bank. In order to make John comply, Lin Yilong took out another hammer - cash acquisition.
Stewart no longer has any doubts about Lin's goals, but there is still one problem that remains unresolved.
"So, why did you come to me? Why don't you just go to our financing department, you want to buy the land, and I'm not the receptionist who handles the mortgage. Stewart asked suspiciously, his personal relationship with Lin Yilong was limited to nodding friends similar to work afternoon tea, and he would not break the bank's rules for Lin Yilong.
"No, I'm here to enforce the Bar's Code of Conduct, and I'm here to tell Middlesex Bank, as my client. "I left Alan Binghamton, which is the last case I handled, and ......."
Lin Yilong paused and took out three folders from his briefcase.
"These documents are the entire investigative report of our work, with the signatures of our partner, Mr. Anthony Davis, and me, attesting to the accuracy of the investigative report, as well as ......"
Lin Yilong took out an envelope from his bosom and took out two pieces of paper with identical contents in the envelope, which recorded the liability waiver that he formally informed the bank of his intention to acquire the land.
Please read and sign here. Lin Yilong pointed to the blank space and asked Mr. Stewart to sign the paperwork.
"So, where will you go if I turn you down?" asked Stewart, reading through it playfully, feeling that the payment method and the acquisition fee were good, and that it would surely impress the heads of the financing department. But when he saw Lin Yilong being so strong, he was sure to win it. Even if you can definitely get through, I hope to be able to get some initiative in such a conversation.
Lin Yilong waited for this sentence: even if the bank debt to finance the town is about to mature, the creditor cannot force the next family to forcibly sell the collateral of the debt, and the safest way is to auction. But once it is auctioned, then Lin Yilong wants to buy the entire large plot of land and it will become several small plots, which is unacceptable. If the Middlesex Bank, as a creditor, is allowed to step in and put pressure on the debtor town, then the officials of West Gramorgan County will inevitably comply, and it will be important to win the support of the banks for Lin's plan.
"It's difficult, I'll probably go to the Highlands or Central Wales and buy a similar plot, after all, uninhabited woodland is not expensive. "However, this woodland that straddles County Glamorgan and Bracken was my first choice, after all, you know, I love it there." ”