On March 16, Beijing Chaoyang District Court ruled that Li Yapeng and his brother Li Yawei lost the lawsuit and had to pay 40 million yuan in debt and interest to the plaintiff company. At the same Time, a suspected recording of Li Yapeng begging for mercy and pleading with creditors was released online, stating that he was desperate and that the company’s projects were basically stalled: “I can do whatever I need to do, I need to kneel down, I need to get down, I can do it all.” However, Li Yapeng himself did not respond to the recording.
According to mainland media reports, a court in Chaoyang District, Beijing, ruled on March 16 that Li Yapeng and Li Yawei had to pay 40 million yuan and interest to Taihe Youlian, plus interest on Li Yapeng’s debts, the two brothers had to pay a total of 50 million yuan, while rejecting other claims by Taihe Youlian.
Li Yapeng and his brother Li Yawei had a contract dispute in 2018 when they invested in “Snowy Mountain Cultural Park” and were sued by a debtor for RMB 40 million, which was lost in the first and second trials.
Subsequently, a suspected online recording of Li Yapeng pleading with creditors, said he was desperate, and that the company’s projects are basically stalled: “What I need to do I can, need me to kneel down, need me to get down, I can.” For the debt, the mainland media had contacted Li Yapeng, but no one answered, and his girlfriend Haiha Jinxi said: “Sorry, this thing you do not have to ask me. (Will this matter affect their feelings?) This thing you do not need to ask me.”
Li Yapeng was among the first-tier actors in mainland China, graduated from the Central Academy of Drama acting department. He was known by the public for his role in the TV series “Beijing-Hong Kong Love Line” with Hong Kong artists Wu Qianlian, Chen Hao and Guo Jinan in 1997, and became popular in 1998 when he co-starred with Xu Jinglei and Wang Xuebing in the TV series “Love to the End”, followed by his role in the screen adaptation of Jin Yong’s novel “Xiaoyao Jianghu” and “The Legend of the Eagle Shooting Hero” among the top male stars in mainland China. The company’s main business is to provide a wide range of products and services to the public.
The best but also the most expensive things to do “led to the default of the real estate project
Li Yapeng almost faded out of the entertainment industry in recent years, few works have been released. In November 2008, Li Yapeng contributed 4.5 million yuan (90% of the shares), and his brother Li Yawei and other people in Yunnan registered the establishment of Lijiang Snow Mountain Investment Co.
Ltd. (hereinafter referred to as “Taihe Youlian”) signed the “Project Cooperation Framework Agreement”, agreeing to cooperate with each other to complete the “Lijiang Snow Mountain Town” project.
According to the agreement at that time, Taihe Youlian participated in the project by way of 60 million RMB investment in the shares, and obtained 10% of the shares of Xueshan Company at the same time. And the snow mountain company to Taihe Youlian company commitment if the project loss, the loss part by the original shareholders of the snow mountain company independent bear. Snow Mountain company to ensure that all the interests of Taihe Youlian company not less than 100 million yuan, and 3 years after the expiration of the development cycle, Taihe Youlian company can first recover the agreed fixed equity income of 40 million yuan.
But because Li Yapeng is not proficient in management, do things “but the best but also the most expensive”, resulting in the construction of the Snow Mountain Town project is far less than expected, and is now close to a halt. Li Yapeng also did not fulfill the initial agreement.
In 2017, Taihe Youlian brought Li Yapeng, Li Yawei and another company of Li Yapeng, Zhongshu Holdings, to court, demanding payment of 40 million yuan in debt. The Chaoyang Court ruled in the first instance that Li Yapeng and Li Yawei should pay 40 million yuan plus interest to Taihe Youlian.
In March 2018, Li Yapeng and Li Yawei filed an appeal, and on March 23, 2018, the Beijing Third Intermediate Court ruled in the second instance that Li Yapeng’s appeal was rejected and the original verdict was upheld, and on April 9, 2018, Li Yapeng was listed as a “defaulted executor” for failing to fulfill the judgment.
After the second trial, Li Yapeng and Li Yawei applied for a retrial, and in September 2019, the Beijing Third Intermediate Court ruled that the original verdict was reversed and the case was remanded to the Beijing Chaoyang District Court for a retrial, and Li Yapeng was removed from the “defaulted executor” list as a result of the retrial.
On November 25, 2020, the Beijing Chaoyang District Court held a hearing on the case, but the court did not pronounce a verdict in court. It was not until March 16 that the above judgment was made.
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