レポート用紙(青)

The Progress of the Trial and the Current Situation

 

 

In September, 1999    The Defense Counsel

 1.

  Some real estate companies LIVEX(ライベックス), Maruko(マルコー), Olympic Construction(五輪建設), and Takano Tosio- Shatore( 高野敏男商店-シャトレー) have sold the new "Real Estate of Small Account(不動産小口商品)," so called.

 They built a hotel and sold it as financial goods to make easy sale. It is a small account system of either an account or many small accounts for the each room of a hotel. It created so many joint owners.

 However they promised a cooperate-loan from major financial agencies, and also a guaranteed rental income for each room.

 One day, the guaranteed rental income was suddenly stopped, and the several thousands of victims of each company came out.

 To prevent the recurrence of such damage, the "Act of Real Estate Specific Joint Enterprise" was finally enacted in the year of 1994

 The victims of this case have taken actions and made suit against those companies since 1992. And the relief of the damage was also being required.

 

 2.

  An action against LIVEX(ライベックス) was brought.  Eight groups of 361 people in total have made eight suits against LIVEX since the first suit was made on July 3rd 1995. A suit against LIVEX made Mr. Chiba Takashi who was the ex-president and founder of LIVEX, and the agencies of cooperation loan includ Orix Corp. (オリックス), Chiyoda Life (千代田生命), Taiyo Life (太陽生命), and APLUS (アプラス), and also Asahigin Guarantee (あさひ銀保証) defendants. This suit is brought to ask the compensation of the damage that people (plaintiffs) suffered from the accounts of the each hotels of B & B Series (ビー・アンド・ビーシリーズの各ホテル), Hotel Sanjouen (ホテル三條苑), College Town Hachioji (カレッジタウン八王子), Hotel Arthur Sapporo (ホテルアーサー札幌), and President Hills Kamisoshigaya (プレジデントヒルズ上祖師谷). It is happened because of the illegal cooperation of financial agencies.

 The opponents of the suit are not only LIVEX but also the financial agencies took part in the LIVEX commercial activities with the form of "Cooperation Loan." They should take their responsibility of illegal financial activities.

 We, at Japan, are behind in lender liability for consumer protection.

 There is a counteraction from some cooperated financial agencies in other side.  

 

  3.

  In the trial, we have proved following facts through the various evidence: the actual condition of the debt management of LIVEX, the serious swindle goods of LIVEX, and tort of the tie-up financial agencies.

  (LIVEX tied up with these financial agencies while both the condition of actual business and their property were poor.)

  LIVEX divided up all the room of a hotel into a great amount of small accounts.

  It turned to an "account in small amount of a joint ownership," and there was a financing loan up to 95 % of selling price from the tie-up financial agencies. It made a large quantity of sales at the beginning.

  After the sales, LIVEX took over all things and operated it as a hotel.

  On the advertisement, LIVEX promised, "guaranteed rental income of each room" and "little amount of monthly payment." So, more than two thousand people purchased it.

 Some people bought many accounts and they got a heavy financial burden of several ten million Yen.

 It was the first special financial goods in the market including the loan from the tie-up financial agencies.

 (As a room sold out, it becomes a security for a loan like a mortgage loan.)

 Anyhow, it was easy to make a monthly payment with a guaranteed rental income that was promised by LIVEX at the beginning.

 Before they decided the loan for it, the cooperation financial agencies should investigate all the things of LIVEX, such as the potential of its business, the contents of financial affairs, and operating conditions the   hotels.

 We found, during the trial, that the tie-up financial agencies did not investigate about the LIVEX and its business.

 

 4.

The suit against LIVEX has come to finish nine plaintiffs and plaintiff witnesses, and questions to seven defendant and defendant witnesses by the July of 1999.

There will be a debate procedure on October 8, 1999, and the last scene is held by the March of 2000. It is wondered if there is a sentence or the compromise.

 


 

written by the counsel for LIVEX lawsuit plaintiffs in March, 2001,

translated by LIVEX lawsuit plaintiff party

 

 LIVEX litigation is to raise suit against the financial agencies that tied up with LIVEX, a swindle commercial company with real estate of small account, so called "lender liability".

 The real estate of small account was sold by LIVEX(ライベックス), Maruko(マルコー), Olympic Construction(五輪建設), and Takano Tosio- Shatore( 高野敏男商店-シャトレー). And they made consumer damage due to bogus dividend. And it became a seriously social problem.

  LIVEX had sold leased condominium first.  And then LIVEX developed "Hotel Condominium Owners System" that was new financial goods, small sum share of a divided hotel integrated with long time financial loan with guaranteed monthly income.  LIVEX expanded its business rapidly.

 LIVEX sales people told consumers as follows:

  "You can receive guaranteed monthly dividend continuously.  You can trade it anytime and obtain capital gain, because it certainly raises in price. You can also receive tax reduction by using tie-up financial loan. As a result, you do not need to pay practically."  As a matter of fact, those explanation was completely false.

  LIVEX sold the financial goods cooperated with financial agencies on tie-up loan.  Consumers were deceived and fobbed off with granting credit of the tie up financial agencies. The consumers never thought LIVEX would go bankrupt soon.

 LIVEX were paying bogus dividend to the owners of the financial goods.

 And one day in 1991, the guaranteed rental income, the dividend was suddenly stopped paying for the dividend.  And LIVEX went bankrupt in 1992. The several thousands of victims came out. The victims were deceived and fobbed off with almost no value of the divided hotel in high price. As a result, the victims hold only debts of the loan of the divided hotel.

 The victims of this case have taken actions and made lawsuit against those companies.  And the relief of the damage was also being required.

 The action against LIVEX(ライベックス) was brought.  Eight groups of 361 people in total have made eight lawsuits against LIVEX since the first lawsuit was made on July 3rd. in 1995.  Mr. Takashi Chiba who was the ex-president and founder of LIVEX, and the tie-up financial agencies, such as Orix Corp. (オリックス), Chiyoda Life (千代田生命), Taiyo Life (太陽生命), APLUS (アプラス), and Asahigin Guarantee (あさひ銀保証) are defendants.

 The defendants of the lawsuit are not only LIVEX but also the financial agencies took part in the LIVEX commercial activities with the form of "Cooperation Loan." They should take their liability of illegal financial activities. .

During the trial, we proved following facts through the various evidence:

 the actual condition of the debt management of LIVEX, the serious swindle goods of LIVEX, and tort of the tie-up financial agencies.

 LIVEX tied up with these financial agencies while both the condition of actual business and their property were faulty.  And accounting auditor pointed out LIVEX's  illegal activities.

  Although LIVEX should have paid  dividend income to the owners by the hotel profit, the hotel operation showed a loss. And it was clarified that the LIVEX could not guaranteed dividend income for the owners.  Further more,  the financial goods was not marketable and almost no value.

 Judging from the actual situation, LIVEX'S commericial business was swindl.

 Although the tie-up financial agencies knew that LIVEX operation was bogus dividend, swindle commercial, activities and almost bankrupt, the tie-up financial agencies cooperated with LIVEX to sell the financial goods in order to obtain revenue and profit.  It is obvious that LIVEX's commercial buisiness  did not work without the tie-up financial agencies' loan.  Therefore, the tie-up financial agencies have liability  seriously.

 Investigation of testimony was finished in October, 1999.  A few of plaintiffs became reconciled with the defendants.  However, the reconciled conditions were not reasonable that defendants accept their liability.  So, the most of the plaintiffs received judgment of the court.

Judgment:

 LIVEX commercial activities are fraud, because LIVEX could not pay guaranteed dividend in consideration with LIVEX's bogus dividend operation. The plaintiff's claims to Mr. Takashi Chiba were all accepted.

 However, the plaintiff's claims to the tie-up financial agencies were all dismissed unreasonably.  Further more, judgment ordered that counteracted plaintiffs by some of the defendants shall pay outstanding loan and loss of interest in arrear.

 We, plaintiffs, can not accept the judge that the cooperated financial agencies with LIVEX, who was judged in fraud, are forgiven.  The judge is not at all considered the plaintiffs' relief of serious damage by LIVEX and the tie-up financial agencies.

The most of plaintiffs appealed against the unreasonable judge soon.

 We, at counsel for plaintiffs, will clarify unreasonable points of the judge.  And we will make strenuous efforts the court to judge the tie-up financial agencies' liability and the plaintiff's claim for relief of damage.   

 

 

メモパッド The Outline of the Case
メモパッド I was Deceived Like This

メモパッド The Plaintiff Party who Acts


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