Chapter 145 - Preparation for M&A (1) – PART 2
“The reason I talked with the president here is to ask him to hire me as an employee. I wanted to start my investigation early in collecting information to know the exact situation of the company, like how much debt it really has.”
“Hmm. So you are interested in acquiring this company.”
“That’s right. I believe you probably want to sell the company to a third party as early as you can. That’s what the court promotes too, right? If the company is sold even before the court receivership actually starts, you might get an incentive too, I believe.”
“That’s not a bad idea. What concerns me is that you need to take a position with a real task. We actually have a vacancy in a position that handles lawsuit related work. The person who used to work in the position quit the job; he said the work was too hard for him. Why don’t you take the position and do your own investigation about the company and its debt while handling the company’s lawsuit?”
“That’s fine with me. I am willing to take any work that you give to me. I hope I could take though a position to a level as a managing director.”
“That’s not possible. In order to hire a person at a director level, we will need approval from the court.”
“I see. Then, let’s do this. Let’s tell people within the company that the company hired a new managing director, and tell the court that the company hired a manager who would handle the lawsuit related work.”
“Hmm.”
The officer seemed to take some time to think about it, and said,
“Did the president agree to it? I mean about hiring you, President Gun-Ho Goo.”
“Yes, he said okay.”
“Well, let’s do that then since the president agreed to it. Let me first talk with the president, and I will contact you.”
Gun-Ho lent 200 million won to the Mulpasaneop’s president and secured the loan with his condo in Bangbae Town. The president seemed to be satisfied when he received the money.
“My sister will be very happy. Thank you.”
Gun-Ho came back to Seoul and had waited until he heard something from Mulpasaneop.
“Once I get into the company, I will have to handle their lawsuit job, but I have no idea what the work is about. What should I do? Oh, the officer manager—Se-Gil Lee from a law firm. I think I can ask him about the work.”
“This is Gun-Ho Goo. He joined us today and he will be working as a managing director of our company. He will handle mostly lawsuit related jobs.”
Gun-Ho came forward and gave a 90-degree bow to the workers. The workers clapped with a blank face. The president continued to talk,
“Managing Director Gun-Ho Goo graduated from Zhejiang University in China majoring in accounting, and he worked as the president of GH Development Company. Please welcome him as our team.”
Gun-Ho bowed to the workers again.
Gun-Ho asked the accounting manager to give him the lawsuit files. There were 54 ongoing lawsuits. Gun-Ho quickly looked through the files.
“16 of them are about unpaid wages, and the rest of them are from creditors for unpaid loans.”
Gun-Ho made a call to the office manager—Se-Gil Lee.
“Oh, President Gun-Ho Goo? I am back to my office in Seocho Town. Why don’t we have lunch together today? I can get to the Gangnam station in 15 minutes on my slow foot.”
“I am actually in Asan City today. I took a temporary position in a company that I want to make an M&A of.”
“Oh, really?”
“If you have time today, can we meet at Seoul Station instead? I will buy you a tasty lunch. I have something to consult you about.”
“That sounds good. I don’t have any other schedule today anyway.”
Gun-Ho put all the Mulpasaneop’s lawsuit files into a briefcase and took a KTX train heading to Seoul. Once Gun-Ho arrived at the Seoul Station, he met with the office manager at the Café Pascucci that was located inside the train station.
“What are these?”
“These are lawsuit documents.”
Gun-Ho put all the documents on the table and showed it to the office manager—Se-Gil Lee.