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At the time of the press conference, the stock market had already opened, and the stock prices of Swire Group companies and the three listed companies of the Carrian Group plummeted as it should be by rights.
At the same time, Norman Swire, who was rescued by Hong Kong Sanatorium & Hospital, finally regained consciousness and saw many of his children, including his eldest son Corey Swire who flew in urgently from United Kingdom.
“Father, how are you feeling now?”
After chasing out the others including his brother sisters according to father’s instructions, Corey Swire grabbed father’s hand and asked with concern.
“I won’t see God yet.”
Norman Swire said softly, and then asked about the company.
“Corey, how is the company’s situation now? Have Hongkong and Shanghai Bank and other banks visited?”
The situation is of course very bad. Corey Swire is afraid that father will not be able to bear the blow after knowing the situation and another accident will happen, but he will not be the master without letting father know.
Corey Swire smiled barely and didn’t know what to say after opening his mouth several times.
Norman Swire’s heart sank. He tried to sit up with his strength, and Corey Swire jumped.
“Father, you lie down, don’t sit up.”
“Help me get up!”
Norman Swire raised the volume and said unquestionably.
Corey Swire had no choice but to carefully support father up and give him protective measures.
“Let’s talk, what’s the situation now, don’t hide from me, I can bear it.”
As he said, Norman Swire stared coldly at his eldest son.
Corey Swire sighed, did not dare to lie, and truthfully explained what happened when father was in a coma.
“Father, after you fainted, our company’s stock price plunge not only broke the cordon of pledge loans, but even yesterday afternoon the market value of Swire shares fell below 3 billion HKD.”
“Hongkong and Shanghai Bank, Hang Seng Bank, Bank of East Asia, Citibank and other banks that have loan business with us have all sent us warning notices or face-to-face notices, requiring us to make up the security deposit or collateral within 24 hours, otherwise Just hand over the mortgaged assets to them.”
“If we do not respond for more than 24 hours, they will force emergency measures to be initiated, tacitly give up the replenishment of margin and collateral, and will exercise the mortgage right and dispose of the mortgaged assets by themselves.”
“Because you have been in a coma, and we really can’t take out the funds and excess collateral now, so I haven’t given those banks a reply until now.”
“Now there are only less than 2 hours left before the time given by the earliest Hongkong and Shanghai Bank.”
Norman Swire listened expressionlessly, as if what his son said had nothing to do with him.
In fact, if you don’t care, it must be false.
But after this coma, he also understood and prepared for the worst.
He had thought of all the methods he could think of before, and had tried his best. Now that the situation is out of control, all he can do is accept.
To put it bluntly, his ambitions have been scattered ashes and dispersed smoke under this blow. The only single thought in his mind is to preserve as many assets as possible for the family.
“Let the bank exercise the mortgage right on its own, don’t let those mortgaged assets.”
Hearing father’s words, Corey Swire was taken aback and found him not a joke.
However, banks are not easy to bully, and losing assets does not mean that you can get rid of all responsibilities.
After a moment of silence, Corey Swire was nodded and said softly: “Father, according to the current situation, after the bank auctions the mortgaged assets, it is very likely to repay the debt. We don’t know if the remaining assets of our family are enough to pay off…”
Faced with this extremely real problem, Norman Swire was silent.
The mortgaged assets will be handled by the banks themselves. Under normal circumstances, the banks would definitely want to sell as high as possible, but if some banks insist on cheating, they can sell the mortgaged assets at a low price, and they still need them for the remaining debt after the deduction. To repay.
If their family refuses to repay, then the bank can sue them and apply to the court for enforcement. If there are really no other assets, the bank will also pull them into the blacklist, which is very troublesome.
But he can’t interfere with the bank’s exercise of mortgage rights. How to deal with it is the bank’s own business. The only thing he can do is to plead that’s all.
Norman Swire sighed, said to eldest son: “Let’s notify the bank first, the rest can only be decided according to the situation.”
Corey Swire was silent, nodded whispered, “Okay.”
There are 2 flowers and one branch each.
Just after the press conference, Xia Yu called Liu Tianci and Wang Qi to his office again.
Looking at the two people sitting in jeopardy, Xia Yu smiled slightly and said directly: “I went to Murray MacLehose’s house last night and talked to him about some things. I promised him that except for some small banks that have been deeply involved with the Carrian Group. Except for its bankruptcy, it will not bankrupt banks above the middle scale.”
“Apart from this also involves the merger of Four Major Stock Exchanges.”
“Murray MacLehose promised me that he would adjust the joint stock exchange creation committee and let me recommend someone to him.”
“Not surprisingly, Murray MacLehose will replace the current committee chair.”
Wang Qi and Liu Tianci eyes shined, looking forward to the following from Xia Yu.
Xia Yu’s gaze swept over Wang Qi, and then, in his lost gaze, fixed on Liu Tianci: “Tianci, I will push you to the position of chairman of the committee, and you will be in charge of the merged matters in 4 and how to do it. I will tell you when the time comes.”
Liu Tianci nodded responded.
Xia Yu looked towards Wang Qi again, said with a smile: “Wang Qi, don’t lose yourself. I will promote you to the position of vice chairman of the committee. You are mainly responsible for acquiring the equity shares of 4 stock exchanges, only in 4 Only when stock exchanges have become major shareholders can the merger be pushed forward.”
“Now that the stock market crash has broken out, there is no doubt that the stock market will be sluggish in the next few years, and many of the four stock exchange shareholders and other companies have also suffered heavy losses. Now is the best time to take over stock exchange equity shares.”
“After 4 mergers are on the right track, I have more important things for you to do.”
Wang Qi was overjoyed, nodded, and replied loudly: “Yes!”
Xia Yu slightly nodded, and asked two people: “Do you have any questions?”
Liu Tianci and Wang Qi shook their heads.
“That way, after you go back, you will perform your duties and act according to the original plan.”
Corey Swire’s first reply was Hongkong and Shanghai Bank. After Lin Changlong reported to Michael Sandberg, Michael Sandberg was not surprised. He knew that the Swire Family was exhausted and could not provide any money or other assets to make up the mortgage.
Seeing that the mortgaged assets will continue to shrink continuously, Michael Sandberg did not hesitate to let Lin Changlong release the list of assets pledged by Swire, and stated that it would be transferred. Interested parties are welcome to consult and take over.
The information revealed by this news is too large, and it is true that the Swire Group and Swire Family have run out of funds and are already insolvent!
The stock price of Swire shares Group and other companies plummeted again, and the rate of decline of the entire Hong Kong stock market rose again.
After hearing Wang Qi’s report, Xia Yu immediately gave instructions to let Wang Qi stay still and pay close attention to who is interested in these assets.
Let the assets shrink for a while, and then the price will be lower.
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