Image source Louis Koo Sina Weibo
According to reports, actor Louis Koo recently appealed to the Hong Kong High Court to recover HK$8.3 million from Sun Entertainment Culture (now known as Guangshang Culture Holdings) chairman Tang Caizhi. Louis Koo was accused of cooperating with Tang Caizhi to invest in the fashion and catering business in 2013 and 2014. During this period, Louis Koo personally borrowed HK$8.3 million from Tang for capital injection, and the loan has not yet been repaid.
Tang Caizhi requested the court to order Louis Koo and Gu's company to hold half of Tang's equity in the form of a trust, and requested that the relevant equity be transferred and the accounts accounted for. The plaintiff in the case is Tang Caizhi, and the defendant is Louis Koo and the company cool label limited owned by Louis Koo. The plaintiff is a famous film producer who invests in film and entertainment industries, and the respondent is an artist.
The appeal stated that in mid-2013, Louis Koo proposed to Tang Caizhi to jointly invest in eyeteam limited, a company that distributes fashion brands "evisu" and "a bathing ape". Tang agreed, and Louis Koo proposed to Tang Caizhi through his wholly-owned product power limited. It has a 49% stake in eyeteam, with an investment amount of HK$16.6 million. The appeal also pointed out that Louis Koo told Tang that he was unable to make the first payment under the agreement and asked Tang for assistance. Tang also agreed and lent 8.3 million Hong Kong dollars to Gu in his own name interest-free with a repayment period of 5 years. However, Louis Koo has not repaid the loan since July 2018, so he filed a lawsuit to recover the arrears from Louis Koo.
Some media contacted Louis Koo's film company about related events, but have not received a response yet.
According to reports, when Tang Caizhi was in charge of Sun Entertainment Culture, he flexed his muscles in the entertainment industry, including inviting Huang Baogao to join the main management film business. Louis Koo also worked closely with Sun Entertainment and participated in the filming of movies invested by the company, including "Anti-Drug" (2013), "Aberdeen" (2014), "Paris Vacation" (2015), and "Slaying the Wolf: Greedy Wolf" (2017), which made Louis Koo win the Academy Award for Best Actor for the first time.
When the news came out, not only Louis Koo's fans were upset, but many netizens also said that Louis Koo had supported charity for many years, and based on Louis Koo's income, the news that he "owed more than 7.7 million yuan" was unbelievable.
Source: Morning News, Sina Entertainment
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