Chapter Five: Buying Upstream with Orders

“Its equity amendment is incomplete, its control ambiguous, its pre-sales dependent on an unproven product, and its supplier has undergone a major debt restructuring. Any one justifies accelerated repayment.” Shen brought only a laptop. “The old loan should exit,” he said. “I am not asking for an extension. I am buying it.” On screen was a restructuring signed by twenty-seven employees, nine customers, and twenty-two small suppliers. The bank would sell its ¥5.6 million loan at ninety percent to the Guoliang Common-Benefit Trust. Purchase funds combined customer supply deposits, suppliers’ deferred income rights, and employees’ voluntary bonus deferrals. The bank recovered ¥5.04 million immediately—far above expected liquidation recovery.