Hong Kong actor Louis Koo sued for allegedly failing to pay $1.1M loan

By Linh Le   June 12, 2024 | 09:52 pm PT
Cinema icon Louis Koo has been sued by business associate Alex Dong over allegations of not repaying a 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 pertains to an investment the duo made in 2013 in a fashion venture, according to the South China Morning Post.

Court documents released Wednesday disclose that Koo and Dong initially invested HK$24.9 million together to buy a 49% share in Eyeteam Limited, a distributor of products from popular brands like Evisu and A Bathing Ape. This investment was channeled through Product Power, a company fully owned by Koo.

The documents further state that at the time, Koo did not have enough funds and therefore requested Dong to provide him with an interest-free loan of HK$8.3 million, which was supposed to be repaid within five years, as per Dimsum Daily. To date, this loan has not been repaid.

The partnership extended into 2014 when they decided to invest in Wealthford International Industrial Limited, which operates the Ming Kitchen restaurant in Causeway Bay. They planned to purchase 70% of the shares through Koo’s offshore company Cool Label, based in the British Virgin Islands.

Dong’s legal team is thus not only seeking the repayment of the HK$8.3 million but also demands a judicial declaration that Koo’s shares in Product Power and Wealthford International be held "on trust in favor of Dong," compelling Koo to transfer these shares to Dong upon request.

Koo, 54, began his acting career in television series produced by TVB, gaining fame through roles in "The Condor Heroes" (1995), "Detective Investigation Files IV" (1999), and "A Step into the Past" (2001).

His work in TVB dramas during the late 1990s helped him build a significant following 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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