I'm in the county town, and you say I'm a big shot?

Chapter 619 Company Bankruptcy, Death in Car Accident

The price of the most active corn futures contract, ZCM1503, has surged!

For every cent the price of rice rises, the company incurs a $3.5 million short position loss!

Looking at the nearly 2.4 million unrealized loss on the books, Felix was on the verge of tears.

At that moment, Jackson, the investment manager, hurriedly knocked on the door and came in, looking very anxious.

"Chairman, the futures company sent an email demanding that additional margin be deposited by tomorrow at the latest, otherwise they will force liquidation!"

This isn't the first time Felix has received an email from a futures brokerage firm requesting additional margin!

In just a few days, margin requirements skyrocketed from hundreds of thousands to millions or tens of millions of dollars!

"What about the finance department? Are you going to see their minister, Rudolf?" Felix asked, feigning composure.

“I went there, and Rudolph said the company only had $400 million in available cash, which wasn’t enough to pay the $3200 million deposit!” Jackson said.

Felix's face darkened further. He took a deep breath before saying, "Tell Rudolph to use all the company's funds for paying raw material suppliers and maintaining equipment to pay the security deposit!"

"Huh? This?"

"Go now!" Felix roared.

Rudolf left in a hurry.

Felix took a deep breath, picked up the landline, dialed a number, and said in an extremely humble tone, "Mr. Douglas of Southern Bank, this is Felix from Rock Agriculture. Please grant our company a loan to solve our urgent problem."

"What? No way? Panshi Agriculture is a long-time customer of your company!"

"What? Our ability to repay loans is in trouble, and our credit has been downgraded? No, no, Mr. Douglas, let me explain."

Before Felix could say anything, the other party had already hung up the phone.

Felix then called First Republic Bank, New York State Agricultural Credit Bank, and Federal Agricultural Credit Bank, among others, and received the same answer from each of them:

Your company has suffered huge losses in the futures market and your stock price has plummeted, so we refuse to lend you money!
This made Felix extremely anxious.

Just then, the door was suddenly knocked open, and Melissa, the head of the securities department, rushed in, her face pale: "Chairman, our stock has been shorted, and the stock price has plummeted!"

Felix quickly opened the stock chart, and lo and behold, the stock price had plummeted from $24.5 to $13.9 that day, a staggering drop of 43.6%! The stock price had almost halved!

Felix stared at the string of numbers, staggered, and fainted.

Three days later, Panshi Agriculture was unable to meet the exorbitant margin requirements and was forced to liquidate its positions by the futures company, instantly turning its floating losses into a real cash loss of 6.5 million yuan, far exceeding Panshi Agriculture's net assets and capacity to bear the losses.

Two weeks later, hit by huge futures losses and a complete break in cash flow, it declared bankruptcy and liquidation.

Fang Qingye saw the news on Fox News while scrolling through her phone on the sofa; it was just in an inconspicuous spot on the page.

Winter has arrived in New York, and Fang Qingye has been here for almost two months.

The wind is howling outside; the best thing to do in this kind of weather is to stay at home, with the family gathered around the fireplace, drinking warm coffee and tea.

Fang Qingye sat on the sofa scrolling through her phone, while Xia He held her daughter and read fairy tales attentively.

Snow White and the Seven Dwarfs

She first explained it in Chinese, then in English. Fang Qingye worried that her daughter might confuse the two languages, but the little girl seemed to switch between English and Chinese very smoothly.

When he saw the message, he paused for a moment, but still clicked on it.

The title is "Corn ethanol processing company Shizhong Agricultural goes bankrupt due to aggressive risk-taking and failed hedging."

After opening, there is another line of small print:
"Chairman Felix was hit by a car while crossing a street in Queens, New York, and died tragically. A subsequent autopsy revealed that his stomach contained a large amount of alcohol."

After seeing this message, Fang Qingye fell into deep thought.

"Qingye, what are you looking at so intently?" Xiahe, who was telling her daughter a story, looked up at him and asked curiously.

"Take a look." Fang Qingye handed her the phone.

Xia He was stunned for a moment, and then let out a deep sigh.

"OK, this matter is over." Fang Qingye patted her hand.

"Mmm." Xia He hugged her daughter tightly.

Just then, his phone rang. Fang Qingye saw it was lawyer Smith calling and answered it for the case. "Mr. Fang, Felix is ​​dead!" Smith's voice came from the other end of the line.

"I just saw the news too, what's wrong?" Fang Qingye asked.

"What a pity. I had just collected some crucial evidence that was in our favor and was preparing to submit it to the prosecutor to file an appeal, but then he died, and the case naturally came to an end. Sigh." Smith sighed on the other end of the phone.

Ah?
Smith is quite dedicated.

He's not entirely sure how good he is at litigation, but he's certainly very good at interpersonal relationships.

Thinking of this, Fang Qingye said, "Mr. Smith, please calculate the legal fees and send them to my email. I will settle the bill on time and give you an additional service fee, which I will transfer to your personal account."

"Thank you, Mr. Fang. I look forward to serving you again next time." Smith was very satisfied.

Fang Qingye smiled and continued, "Mr. Smith, would you like to continue serving me?"

“Yes, I would be happy to,” Smith quickly replied.

What a great employer!

He was generous and decisive, giving himself $8000 in extra service fees this time alone!

That's enough to cover the income I would have earned handling this case!
"How about I hire you as my company's full-time lawyer in New York? I'll offer you an annual salary of $25?"

$25?
I only earn 16 a year at the law firm!
This salary already exceeds the median salary of $21 for lawyers in New York State!

“I’m willing!” Smith agreed immediately, then hesitated for a moment and asked, “Mr. Fang, what does your company do?”

"A financial management company with a branch office and a subsidiary, engaged in investment transactions such as securities and futures in the US market."

My God, he was a super rich man!
“Okay, I’ll resign tomorrow!” Smith said immediately.

This is a big spender; we must stick close to him.

"Okay, I'll take you to my office the day after tomorrow."

"OK!" Smith, who was about to hang up, suddenly remembered something and asked again:

"Mr. Fang, online reports indicate that Felix's death is directly related to the collapse of his company, which recently made a misjudgment in the corn futures market, investing heavily in short selling and resulting in a margin call. Rumors suggest that the recent surge in corn futures prices is related to a group of Chinese speculators. Could it be that you, Mr. Fang, were also involved?"

“Mr. Smith, you’re wrong. The collapse of Felix Corporation was entirely due to his greed, and had nothing to do with anyone else,” Fang Qingye replied calmly.

"Mr. Fang, you're right, you're right."

Smith quickly replied.

But he was muttering in his heart.

Not giving a direct answer is tantamount to admitting it.

He suddenly remembered something Fang Qingye had said to Phillips after the court hearing that morning, in response to Phillips' provocation.

"I don't believe in God, I only believe in myself! I'd rather punish myself than let God punish me!"

My God.

Smith then realized that Fang Qingye hadn't just said that casually, but had planned it all along!

Smith's heart pounded as he thought about it.

That's ruthless!
And what about Philip's sudden car accident? Could it have been orchestrated by Fang Qingye?!
我的天啦
That's first-degree murder!
I need to carefully read the police announcement to see if it has anything to do with him.

Fang Qingye never expected that Smith would think of that. After finishing the call, he chatted with Xia He.

"Now that the office is established, we lack a full-time lawyer. Smith's professional skills may not be very high, but he is good at interpersonal relationships and should be able to handle routine legal matters. If there are any important matters, we will hire a more professional lawyer."

Xia He did not comment on the matter concerning the Tuofang Technology office.

The CEO of Tuofang Technology is Bai Ou!

You need to be careful to maintain your own sense of proportion.

"After I finish dealing with things at the office, I'll make an appointment with the doctor to remove the steel pins from your leg. That way, after you rest for a while, you'll be able to walk like a normal person," Fang Qingye said enthusiastically.

"So... are you planning to go back to China?" Xia He suddenly asked.

(End of this chapter)