According to the consumption restriction order, on August 12, 2019, the court filed the case of Cao Yue, the applicant, who applied for the execution of other contract disputes of Shanghai Panda mutual Entertainment Culture Co., Ltd. because panda mutual failed to perform the payment obligations determined by the effective legal documents within the period specified in the execution notice, it was taken consumption restriction measures to restrict its legal representative, main person in charge and those affecting the performance of debt Wang Sicong, the person directly in charge and the actual controller, shall not carry out high consumption and non life and work necessary consumption behaviors.
It is understood that the above high consumption behaviors include:
(1) when taking a means of transportation, the second class or above class spaces of aircraft, train soft sleeper and ship shall be selected;
(2) high consumption in hotels, hotels, nightclubs, golf courses and other places above the star level;
(3) purchase of real estate or new, expanded or high-grade decorated houses;
(4) leasing high-grade office buildings, hotels, apartments and other places for office;
(5) purchase of vehicles not necessary for operation;
(6) travel and vacation;
(7) children attend high fee private schools;
(8) paying high premium to purchase insurance financial products;
(9) other consumption behaviors not necessary for living and work, such as taking all seats of g-head EMU train, and more than one class seats of other EMU trains.
On November 6, 21st century economic news reporter learned that according to the China implementation information disclosure network, on November 4, Wang Sicong was listed as the executor by the second intermediate peoples Court of Beijing, with the execution target of 151437840.0, about 150 million.
Some people in the legal circle explained that this meant Wang Sicong owed at least 150 million yuan. For example, the court sentenced the defendant to lose money, but the defendant has not lost money. The plaintiff proposed compulsory execution to the court. After the court agreed, the defendant became the person to be enforced.
Not long ago, Wang Sicong, the chairman of the board of directors and holding 100% of the shares of Beijing price Investment Co., Ltd., was frozen by Shanghai Baoshan peoples court. The specific amount of the freeze is ominous. The freeze date is from October 15, 2019 to October 14, 2022.
According to the interface report, one of Jupais equity funds invested in Panda TV was a guaranteed buyback signed by Wang Sicong at that time. At present, Jupai investment has gone through the judicial procedure of arbitration and applied for property preservation. The dispute may focus on the panda live project.
Jupai investment insiders confirmed the above information to 21st century economic news reporter, mainly the application initiated by the project party.
This means that Wang Sicong signed a personal buyback guarantee at the time of financing. With the collapse of panda live, its gambling failed.
Source: responsible editor of 21st century economic report: Wang Xiaowu NF