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Hong Kong actor Louis Koo sued for non-payment of $1.1 million loan

Hong Kong actor Louis Koo sued for non-payment of .1 million loan
Hong Kong actor Louis Koo sued for non-payment of .1 million loan


By Linh June 12, 2024 | 9:52 p.m. (Pacific Time)

Film icon Louis Koo has been sued by his associate Alex Dong over allegations he failed to repay an HK$8.3 million (US$1.1 million) loan.

Hong Kong actor Louis Koo.  Photo from Koos Weibo

Hong Kong actor Louis Koo. Photo from Koo's Weibo

The lawsuit concerns an investment the duo made in 2013 in a fashion company, according to the South China Morning Post.

Court documents released on Wednesday reveal that Koo and Dong initially invested HK$24.9 million together to buy a 49 percent stake in Eyeteam Limited, a distributor of popular brand products like Evisu and A Swimming Ape. This investment was routed through Product Power, a company wholly owned by Koo.

The documents further state that at the time, Koo did not have sufficient funds and so asked Dong to give him an interest-free loan of HK$8.3 million, which was supposed to be repaid within the five years, according to Daily dim sum. To date, this loan has not been repaid.

The partnership continued until 2014 when they decided to invest in Wealthford International Industrial Limited, which operates the Ming Kitchen restaurant in Causeway Bay. They planned to buy 70% of the shares through the offshore company Koos Cool Label, based in the British Virgin Islands.

Dong's legal team is therefore not only seeking repayment of the HK$8.3 million, but also demanding a judicial declaration that Koo's shares in Product Power and Wealthford International be held “in trust in favor of Dong “, forcing Koo to transfer these shares to Dong as soon as requested.

Koo, 54, began his acting career in television series produced by TVB, becoming famous for his roles in “The Condor Heroes” (1995), “Detective Investigation Files IV” (1999) and “A Step into the Past” (2001). .

His work in TVB's television series in the late 1990s helped him build a sizable audience in Hong Kong, Taiwan, mainland China and Southeast Asia.

Since 2001, Koo has focused on his film career and has become a key figure in the Hong Kong film industry.




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