The compliments from everyone and Fanny’s words delighted Bruno. He stood up from his seat without going to greet the man, adopting a high and mighty posture, waiting for the man to approach.
As the man approached, Bruno huffed, “Can’t you see that we are in a meeting? Who are you, and which company’s salesman are you? Don’t you understand etiquette?”
The man disdainfully cast a sideways glance at Bruno and casually said, “I am Logan Ivan, the credit manager of Hengfeng Bank in Langstel.”
Upon hearing the man’s identity and position, Bruno felt both secretly delighted and proud. “Hengfeng Bank is quite well-informed. I just took over as the chairman of the Henley’s Corp, and you’ve come to discuss business so promptly.”
The Henley family members became excited upon hearing that it was the credit manager from Hengfeng Bank who had come in person.
“I told you this person has a significant background. Unexpectedly, he is the manager of Hengfeng Bank’s credit department.”
“When the old lady was in charge, not even Hengfeng Bank, let alone a private bank, would bother with us. It seems that with Bruno in charge, the status of the Henley’s Corp has risen significantly.”
“With the financial support of Hengfeng Bank, the Henley’s Corp will find it hard not to make money this year. It looks like my dream of counting money until my hands cramp might soon come true!”
The discussions among the Henley family members made Logan sneer inwardly. He stared directly at Bruno and said loudly, “Since you are the newly appointed chairman of the Henley’s Corp, things are easy.”
Logan took out a document from his briefcase and handed it to Bruno. “This is the overdue debt collection notice from Hengfeng Bank. The Henley’s Corp used 20% of its assets as collateral to borrow one billion from us.”
“A billion loan is overdue and has not been repaid. In addition, Hengfeng Bank’s risk control data shows that the Henley’s Corp is at an extremely high risk of fund rupture. To ensure the safety of our funds, please repay the one billion loan within one month. Otherwise, we will file a lawsuit against you.”
Logan’s words stunned Bruno, beads of cold sweat forming on his forehead and back.
“W-what are you talking about? What one billion, what group assets?” Bruno pretended to be clueless.
Logan snorted coldly, continuing to take out another document from his briefcase. “This is the loan contract that your Henley’s Corp used 20% of its assets as collateral for. Do I need to make it clearer?”
Looking at the debt collection notice and loan contract in Logan’s hands, Bruno was dumbfounded.
He knew about the one-billion loan. That day, during the family meeting presided over by the old lady, he had persuaded her to let Leo borrow the one billion.
The result was also clear: Leo successfully borrowed one billion and resolved the crisis for Sophia’s company.
After becoming the chairman of the Henley’s Corp, Bruno had the finance department audit the accounts of Sophia’s cosmetic company. When he found no additional one billion in funds, he naturally assumed that Leo had repaid the loan to the bank.
Logan’s words revealed something to Bruno: Leo had not repaid the one billion.
This damn useless son-in-law!
“Mr., Mr. Ivan, you must be mistaken. The one billion loan should have been repaid by the Henley’s Corp,” Bruno thought that the money wasn’t borrowed personally, so he intended to deny it.
Logan sneered, “Are you implying that Hengfeng Bank is trying to extort the Henley’s Corp?”
“No, no, I didn’t mean that. I…”
Logan interrupted Bruno, “Mr. Henley, let me remind you. Although the one billion loan occurred while your grandmother was alive, the legal representative bearing the debt is the Henley’s Corp, which is you.”
“We evaluated the Henley’s Corp’s assets three days ago. With only 20% of the assets, you can, at most, offset 200 million. In other words, if the Henley’s Corp can’t repay the one billion loan within the deadline, you will have to use the entire assets of the Henley’s Corp as compensation.”
Logan’s well-articulated words stabbed every sensitive nerve in Bruno.
If what Logan said was true, being the chairman beca, e meaningless. He would instantly become a mere figurehead.
“Mr. Ivan, the one billion loan was acquired by our family’s son-in-law. You should go after him for the money,” Bruno hastily threw Leo under the bus.
This time, Logan remained silent and flipped to the first page of the loan agreement, pointing to a section for Bruno to see.
Bruno leaned in to take a look and felt a sudden shock.
The loan agreement clearly stated that the borrowing party was the Henley’s Corp.
Logan turned to the penultimate page of the loan agreement, where a supplementary clause was written: if the loan is overdue and not repaid, the bank will assess 20% of the Henley’s Corp’s assets. If the assessed value falls short of one billion, the Henley’s Corp must use all its assets to settle the debt.
After reading the supplementary clause, Bruno suddenly realized something.
No wonder that useless Leo managed to secure one billion; turned out, he had a deal with the bank!
This deadbeat colluded with Sophia to set a trap for the conglomerate!
Thinking about the lawsuit Logan mentioned, Bruno was well aware of the consequences. If they lost, the entire conglomerate would face bankruptcy, followed by a court-mandated auction. The auction proceeds would all go to the bank.
In other words, if it came to that point, Bruno would become a penniless man.
“Mr. Ivan, this loan has nothing to do with the Henley’s Corp. It was borrowed by Leo and Sophia Cosmetics’ manager, Sophia. You should go after them for the money,” Bruno wore an expression of despair and helplessness.
Logan didn’t waste time arguing with Bruno. Instead, he slammed a lawyer’s letter on the table, saying, “It seems the Henley’s Corp has no intention of repaying the money. So, get ready for a court summons.”
Logan angrily spoke and prepared to leave.
“Mr. Ivan, the one billion loan really has nothing to do with the Henley’s Corp; it was borrowed by Sophia Cosmetics,” Bruno desperately called out.
Logan turned around coldly and asked, “As far as I know, Sophia Cosmetics is a subsidiary of the Henley’s Corp, isn’t it?”
“Yes, but…”
“That’s correct. Now, you have only two options: either repay the money or wait to be sued, followed by the court’s auction process!”
Logan left without looking back.
Bruno felt his vision blur, took two steps back, and almost sat down on the floor.
One billion… The entire assets of the conglomerate… Court… Lawsuit… Auction…