Thursday , January 28 2021

Illegal leasing of LeTV sports over 200 million yuan in receivables – Financial News – Sina News Center

Unauthorized leasing of LeTV Sports required more than 200 million yuan

Source: Beijing Business Daily

Beijing Business News (reporter Qian Yu Intern Reporter Feng Shuo) On November 9, announced that it recently received "Arbitration Report", the applicant is LeTV Sports Investors Beijing Pusi, Xiamen Jiayu, Tianhong Innovation Amount of Arbitration Applied to Original Shareholders amounted to about 240 million yuan. Among them, Beijing Pusi relied on a breach of LeTV Sport's deal to break the shareholders' interests and demanded that LeTV Sports compensate for a loss of 978.16 million RMB, LeTV, Lele Interactive, and Beijing Pengyi's commitment to pay for LeTV Sports in the first arbitration claim. Take responsibility for joint responsibility.

According to the announcement, in December 2016, LeTV Sports announced at a meeting of shareholders that LeTV Sports gives over 4 billion RMB to the affiliated party LeTV Holdings without the consent of the board of directors or the shareholders' meeting. Since the funds have been occupied by affiliated companies, they are seriously affected by the usual business activities of Leshi Sportsa. A large number of companies could not have been executed due to financial constraints, and even they were punished and responsible for the impossibility of returning foreign debts, resulting in the loss of Beijing Pusi's investment interests.

It is understandable that in April 2016, LeTV Sports introduced investors, signed a "B-Circle Sharing Agreement" and a "Round-Up Financing Agreement" and added more than 40 investors to capital increase in the form of cash and debt transactions. 7.833 billion yuan. The "Shareholder Agreement in B-Circle" sets out the terms of redemption of original shareholders (with Leica LTV, Lele Interactive Sports Development Development (Beijing) Co., Ltd., the Beijing Pengyi (Limited Partnership) property management company.

In addition, under the "Restructuring Plan" formulated by LeTV Sports on July 26, 2017, LeTV Holdings still has the principal amount of the loan of 2,471 billion yuan, and interest has not yet been repaid. At the moment, LeTV Sports Capital Chain has been interrupted and it is difficult to continue its normal business. The perpetrators filed a lawsuit and many courts were listed as violations of the bankruptcy trustee. The applicant's shareholder is seriously injured.

In March 2014, Leshi Sports Industry Development (Beijing) Co., Ltd. was formally founded. based on the LeTV Sports Channel, which was developed from one video media site to "Event Management + Content Platform + Intelligent + Value Added Services". The whole industry is a chain of environmental ecological companies.

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