Chapter 120 Besieged on four sides
Chapter 120 Besieged on all sides
An Rushong walked over, looked at the skewers of meat grilling in the grill pan, and thought to himself: Love is BBQ.
"Cut the onions and garlic," Zhao Jingsheng said as he saw him walking over, shrug his chin towards the chopping board next to him.
An Rusong followed orders and walked to the chopping board to cut vegetables, while asking, "Brother Jingsheng, is there any happy event today? Otherwise, how could you be interested in making this barbecue?"
"Haha, I'm just happy." Zhao Jingsheng looked at him and smiled, "Well, it can be considered a happy event."
"Oh, tell me about it, let me be happy too," An Rushong joked.
"Haven't you heard that the results of the investigation into Liu Taimin's inheritance are out?" Zhao Jingsheng said directly without hiding anything.
"How much?" An Rushong asked curiously.
"Real estate, savings, and stocks," Zhao Jingsheng winked at him and said, "all together, the total is more than 3700 billion won. Of course, the most important part is the shares of Damushan Group that he holds."
"Tsk," An Rusong sighed, feeling sorry for Han Meiyan. But thinking about it carefully, it would be good if she could get a quarter of the inheritance.
South Korea's inheritance tax starts at 5000 million won, and the tax rate is as high as %. This tax can take away half of Liu Taimin's entire inheritance.
As for the rest, if Liu Taimin had not left a will, Han Miyeon should be able to take more property from Liu Taihe through means such as litigation. If Liu Taimin had left a will, then the property she could get would probably be quite limited.
"The Liu family is in a mess right now," Zhao Jingsheng laughed happily. "Liu Taimin's personal lawyer Park Xianzhe produced a will that is said to be left by Liu Taimin. According to the way the estate is distributed in this will, Liu Taihe can get the core of the Damusan Group, which is nearly 27% of the shares of Damusan Holdings, and thus become the actual controller of Damusan Group."
Previously, An Rushong had learned about the equity layout model of the Damushan Group. This comprehensive enterprise group, like the vast majority of enterprise groups in South Korea, has adopted a very complex cross-holding model, and its core is Damushan Holdings.
In reality, Damushan Holdings itself does not own any real industrial assets. It just holds shares in a large number of companies, but its holdings in each company are limited.
For example, Damushan Holdings only holds a few dozen percent of the shares of Company A, which is not enough to achieve absolute control. However, it also controls part of the shares of a series of companies such as B, C, D, and E, and these companies each hold part of the shares of Company A. In the end, it can achieve absolute control over Company A.
Of course, this example is a bit simplistic and not quite appropriate, but that’s the point.
In addition, as Liu Taimin's most valued heir, Liu Taihe holds a portion of the shares of Damusan Holdings. His brother, Liu Taiming, who is still in prison, also has some shares of Damusan Group, but the amount is definitely not much.
Furthermore, when Liu Taimin was alive, he had a series of "shareholder partners". These partners may have held certain shares of Damushan Group, but their identities were not suitable for holding shares of Damushan Group, such as officials and parliamentarians who had close ties with Damushan Group. Therefore, their shares were also held by Liu Taimin, and the shareholders themselves only enjoyed dividends.
It is through such a series of operations that Liu Taimin is able to firmly control the Damusan Group, a comprehensive enterprise group with dozens of branches, with less than 30% of the group's shares.
Now, with Liu Taimin's sudden death and the failure of the new generation of group leaders to smoothly complete the transfer of power, the series of troubles that will follow were already doomed.
The reason why Zhao Jingsheng laughed so happily when he talked about Liu Taimin's private lawyer claiming that his former employer had a will was because the sudden appearance of this will not only failed to solve the troubles within the Daemusan Group, but on the contrary, it would intensify the eruption of internal conflicts.
It is true that Park Hyun-chul was Liu Taimin's personal lawyer before his death, and he had even served the latter for half his life. But so what? Who can prove that this will is authentic? Who can prove that this will was left by Liu Taimin when he was conscious? Who can prove that Liu Taimin did not make a second will after making this will?
The most crucial point is that Liu Taimin never announced the existence of this will during his lifetime. It was Park Hyun-chul who took it out himself. This guy is just Liu Taimin’s personal lawyer. Does he have the power to do this?
It is estimated that only Liu Taihe himself would acknowledge the authenticity of this will. As his brother, Liu Taiming, who is still in prison, would definitely not accept it even if he is a coward or a soulless person.
Besides, the Liu family is not just the two brothers, and those aunts and uncles who don’t get any benefits will definitely not approve of this will. In the final analysis, the appearance of this will itself shows that the property dispute within the Liu family and even the Damushan Group has risen from the surface, and it has even become white-hot.
An Rusong couldn't judge the authenticity of this will, but he was sure that this lawyer Park Hyun-cheol was definitely on Liu Taihe's side. At present, only a will has appeared in the Liu family's inheritance dispute. Next, when the two sides completely tear their faces apart and start to go to court, who knows how many dirty tricks will be used behind the scenes.
Because he could understand all this, An Rusong smiled and said, "Then there will be something interesting to watch next. I'm afraid the Liu family won't be able to live in peace for some time to come."
"Some time in the future?" Zhao Jingsheng smiled and said, "Hey, there's no need to wait for some time in the future. We can already watch this show now."
After a pause, he continued, "Even if no one in the Liu family jumped out to fight for the inheritance and question the authenticity of the will, Liu Tai and this guy would not have an easy time."
"Oh, what's wrong with him?" Cutting onions was very stinging and tears soon filled An Rushong's eyes, but he still couldn't help asking curiously.
"With his ability, there is no way he can afford the inheritance tax of nearly 100 billion won," Zhao Jingsheng said with a smile, "Now, he has only two options. One is to sell all the shares in exchange for cash, and the other is to give up the inheritance."
As mentioned before, South Korea's inheritance tax is frighteningly high. If the inheritance left by Liu Taimin was all in cash, then it would be easy to deal with. At most, the inheritance tax could be deducted from the inheritance.
But the problem now is that most of the inheritance that Liu Taihe is going to take over are shares of the Damushan Group. Although these things have value, they cannot be equated with cash. The most important thing is that even if these shares can be equated with cash, Liu Taihe cannot hand over half of these shares. If so, he will inevitably lose control of the Damushan Group.
"Didn't he apply for a loan from the bank or ask for an extension of the inheritance tax payment?" An Rushong asked.
Many heirs to large chaebols have encountered situations similar to that of Liu Taihe, and the corresponding solution is to apply for a loan from a bank. Of course, if the profit conditions are good, they can also apply to the tax collection department for deferred payment or installment payment.
"Think about it, considering the dire situation that Damushan Group is facing right now, is it possible for Liu Taihe to get a loan from the bank?" Zhao Jingsheng smiled and motioned him to gather the chopped onions. He said, "As for applying for deferred payment or installment payment, haha, forget it."
An Rushong understood that the "dire situation faced by Damushan Group" mentioned here can actually be viewed from two perspectives.
One is that after the continuous problems of Damushan Group, its stock price has been falling for more than a month, and the market is generally not optimistic about the group's prospects. In this case, it is not easy for Liu Taihe to get a bank loan.
Another thing is that the Daemosan Group stabbed Councillor Kong in the previous Ministry of National Defense bribery scandal. Although Councillor Kong and his gang are not in a good position to continue to attack the Daemosan Group in the short term due to Liu Taimin's sudden death, they can still use the means behind the scenes and the more obscure means.
Just like when Liu Taihe wanted to apply for an extension of the inheritance tax payment, Councillor Kong didn't even need to show up in person. As long as his assistant said a word to the relevant officials, Liu Taihe's application would not be approved.
No wonder Zhao Jingsheng looked so happy. Putting himself in Liu Taihe's shoes, he realized that he was really in a dilemma now.
An Rushong naturally also liked to see such a situation. Before, although he always felt that Zhao Jingsheng was irrational and that his hatred for Liu Taihe was too strong to affect his correct judgment, in fact, An Rushong himself also had a very high level of hostility towards Liu Taihe. If he had the chance to kill this guy, he would definitely do it without hesitation.
But if you think about it carefully, where does An Rusong's hostility towards Liu Taihe come from? Could it be that it came from the fact that he was frightened by Huixiu's corpse under the eaves?
No, that is not the most fundamental reason. The most fundamental reason is that An Rushong dislikes and even hates Liu Taihe's attitude of treating ordinary people as grass.
Yes, that guy's arrogance or superiority were not the reasons why An Rushong hated him. The most direct reason for An Rushong's hatred for him was his indifference to ordinary people and his inhumanity in treating them as ants and grass.
After all, in An Rusong's heart, he is also an ordinary person now, so Liu Taihe and he are actually in an opposing position. As for the future, who can say for sure what will happen in the future?
(End of this chapter)