Chapter 254 Huge Debt
"From XX/XX/XXXX to XX/XX/XXXX, a total of seven years, Mr. Lin went abroad and never participated in any company affairs. All company affairs were handled solely by Ms. Wen."
"Mr. Lin has failed to fulfill his responsibilities as a husband, nor his obligations as a company president."
"Therefore, during these seven years, all of the company's revenue and profits belonged to my client, Ms. Wen. Mr. Lin, do you have any objection to the above?"
These seven years were the highlight of Shanglin Group's rapid growth. The speed of its growth and the value of its revenue generated were greater than those of the previous 21 years. How could Lin Zheng possibly agree to this?
This time, before Wu Shu could say anything, he took the initiative to refute.
"I'm sorry, I don't agree with this one."
"Although I've been abroad for the past seven years and haven't been involved in any work for the company, according to the Marriage Law, as long as our marriage remains intact, any profits generated by either spouse are considered joint property and should be shared."
"Lawyer Yu, from a legal perspective, am I correct?"
This time, it was Wen Lan's turn to stand up and curse.
"Lin Zheng, can you be any more shameless? Who gave you the nerve to say such things?"
Qi Xu pulled Ms. Wen and motioned her to sit down and be patient.
"Mom, don't get excited. It's not worth it to ruin your health over someone like that."
When she listed this point, she had already anticipated that the other party would object, so she prepared a response plan in advance.
He gave Yu Chuan a look, signaling him to continue.
"That's right. Mr. Lin's point is well-founded, and that's indeed the legal definition. However, I'd like to add one point. According to the Marriage Law, any income generated by either spouse during the marriage is considered joint property and should be shared. However, debts owed by the couple should also be shared."
"Next, I'll analyze the financial data of Shanglin Group during Mr. Lin's seven years as a hands-off manager in a foreign country. The following is the financial data."
"Excluding the established assets in the company's accounts before Mr. Lin left, in the seven years since Mr. Lin left, Ms. Wen has managed the company on her own, generating 300 billion yuan in revenue and increasing the company's market value by 450 billion yuan, for a total of 750 billion yuan."
"This amount will not be divided for now. I still have the debt part to explain."
He took out an IOU from his pocket calmly.
"From the year before last to this year, the company suffered heavy losses from its real estate projects, resulting in a huge funding gap and difficulty in maintaining its existence. Therefore, Ms. Wen borrowed 800 billion yuan from the Lu Group in three installments under the name of the Shanglin Company. The IOUs are here, stamped and authenticated by the notary public. Please see them."
"Originally, my client thought that during her seven years as president, not only had the company not made any money, but it had actually lost 50 billion yuan, which would be embarrassing to disclose. So, she decided not to settle the accounts and secretly filled the 50 billion yuan hole, suffering the loss in silence."
"But Mr. Lin disagrees. Let's lay the accounts out in the open and settle them thoroughly. That way everyone will be convinced."
Lin Zheng screamed and jumped up. "800 billion yuan! How, how, how is this possible?"
Of course not.
Qi Xu asked Lu Shishang for help to write this IOU, and asked Ms. Wen and Lu Shishang to go to the legal department to notarize it.
Both parties had voluntarily taken out the loan and acknowledged the amount of the debt, stating there was nothing wrong with it. The notary office stamped the agreement with a flourish.
Of course, doing so carries a great risk. If Lu Shishang really asks Wen Lan to pay back the money, then it will be difficult to justify it and the lawsuit will be difficult to win.
800 billion is not a small amount, it is a huge debt that can bankrupt a family.
At first, Ms. Wen was hesitant. But Qi Xu used his life to guarantee that Lu Shishang would not do such a wicked thing, so Wen Lan believed him.
She personally went to the door and sincerely asked for help, and the other party readily agreed.
Indeed, Lu Shishang was a rare gentleman. After leaving the notary office, he personally wrote a repayment certificate, signed and stamped it, and handed it to Ms. Wen.
"I'm deeply moved by Premier Wen's trust and his determination to make it this far. Take the repayment certificate. Our debt is now settled."
Wen Lan hadn't expected the other person to be so open-minded and generous. He hadn't asked for anything in return for the 800 billion yuan debt, and had immediately handed her the two IOUs and the repayment certificate, leaving her with no worries.
This magnanimity is even more admirable.
"I will remember Mr. Lu's kindness. In the future, if you need anything, just let me know. I will definitely be your friend."
"For that last project, let's split it 50-50. I'm willing to give Lu an additional 20% as a thank you."
Lu Shishang wanted to say no, but Wen Lan stopped him. "Mr. Lu, it's settled. If you don't agree, then you don't want to be my friend."
She must not be stingy when the other party is generous. It is one thing for others not to want it, but it is another thing for herself to give it or not.
Only when you are willing to give can you gain more. It is true in business and in life.
Because of Lin Zheng’s selfishness, this third item not only failed to gain any advantage, but also picked up 50 billion in debt for nothing.
Because it has been authenticated by a judge and a notary public, this IOU is absolutely authentic and fully legally effective.
Therefore, as soon as Wen Lan and Lin Zhengyi divorce, Lu Shishang will send someone to collect the debt for her.
In this way, all the hard work that Ms. Wen has put in over the years will return to her after passing through Lu Shishang's hands.
Before Lin Zheng and the others could digest the debt information, Yu Chuan continued.
"Since Mr. Lin insists on sharing the financial and economic burden of these seven years equally, then we should share both revenue and debt. We, the client, have no objection."
"Next, I'll continue."
"Wait!" Wu Shuhua continued to act up, shouting shamelessly. "Why should we share the responsibility for the money she borrowed? This isn't fair."
After all these years as a lawyer, this was the first time that Yu Chuan was disgusted by the shamelessness of the person in front of him.
"That's ridiculous. This debt was borrowed by Shanglin Group, not by my client personally. Even if it was borrowed by her personally, Mr. Lin, as her husband, should share the responsibility."
"So you just want to suck the blood of others, taking advantage of others and not being able to bear even the slightest loss? Where in the world can such a good thing happen?"
"Whether you agree or disagree with this matter, it will be decided by the Justice."
Wu Shuhua looked at Liang Jun, who nodded quietly, indicating that it was indeed true.
Seeing that the facts could not be changed, she changed her expression again.
"In that case, let's follow what you just said. During these seven years, Zheng will not be involved in the company's affairs, so he won't share in the profits, but he won't be responsible for the debts either."
Wen Lan snorted coldly. "Alright. I'll do the work myself and take the responsibility myself. I can still afford a small loss of 50 billion. I won't implicate anyone."
After obtaining the notarized judgment from the judge, Yu Chuan began to pull out all the financial data and divide them.
"Since both parties agree on the above three points, let's sort out the overall account."
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