Gan Wei tens of millions of real estate is auctioned! Is Jia Yueting still her hero?

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 Gan Wei tens of millions of real estate is auctioned! Is Jia Yueting still her hero?


The picture is taken by alifa

Ten million real estate, 30% off auction

According to the alifa auction page, Gan Weis house is located in courtyard 26, Xinzhuang 1st Street, Chaoyang District, Beijing, which is also known as Lanhai garden, a star shining international residential area. The property will be put up for auction from August 28 to August 30.

According to the auction data, the building area of the property is 193.59 square meters; the exclusive building area is 152.95 square meters, and the apportioned building area is 40.64 square meters. The property also has a parking space worth 470000 yuan. The evaluation price was 22.06 million yuan, and the starting price was 15.45 million yuan, about 30% discount.

Bidders are required to pay a deposit of 1.55 million yuan, with an increase of 70000 yuan and its multiple for each auction. At present, no one has signed up, but 239 people have set up reminders, with 13000 onlookers.

The picture is taken by alifa

Why are the above properties taken by law? This stems from a multi billion loan between China Merchants Bank and LETV, and Gan Wei has been restricted from leaving the country due to a lawsuit filed by China Merchants Bank to recover debts.

On July 8, the website of Shanghai Higher Peoples court showed that Gan Wei had been restricted from leaving the country in accordance with the law because she failed to fulfill her obligations stipulated in legal documents. The executor of the application is Shanghai Chuanbei branch of China Merchants Bank Co., Ltd., and the amount of execution target is about 533 million yuan. The ruling documents provided by the auction announcement are the documents on which Gan Wei is restricted from leaving the country.

The lawsuit between North Sichuan Branch of China Merchants Bank and Gan Wei is related to a loan of 2.7 billion yuan applied by Lefeng Mobile Hong Kong Co., Ltd., the operator of LETVs mobile phone business, to China Merchants Bank in 2015.

In this loan, LETV mobile, LETV holdings, Jia Yueting and Gan Wei jointly issued the maximum amount of the letter of guarantee, promising to undertake joint and several liability for the loan of Lefeng company.

Screenshot of Shanghai Higher Peoples court

In the first instance, Gan Wei once argued that she was not a party and that the name on the guarantee was signed by Jia Yueting, but the court did not accept it.

On June 26, 2017, Shanghai Chuanbei sub branch of China Merchants Bank applied for freezing LETV assets totaling 1.237 billion yuan, which was supported by Shanghai Municipal High Court.

After the court ruled that the interest of the company should be paid off for several times from HK $2.2 billion to HK $0.52 billion on the day of the game, both parties should pay the interest of HK $0.25 billion on the day of the game. Jia Yueting, Gan Wei, LETV holdings and LETV mobile are jointly and severally liable for the payment obligations.

According to the ruling documents provided by the auction announcement, when Shanghai No.1 Intermediate Peoples court executed the ruling of the above case in June 2019, because Jia Yueting and Gan Wei failed to fulfill their obligation of repayment, the names of Jia Yueting and Gan Wei were located in room 1801, unit 1, 16 / F, building 21, Gongti North Road, Chaoyang District, Beijing; room 2003, unit 4, 20 / F, building 6, south area, shuanghuayuan; and room 7, No.26, Xinzhuang street, No.1, Xinzhuang The real estate of no.1240 (parking space) on the first floor of block-1 and room 1101, unit 1, unit 10, building 2, No.26 courtyard, Xinzhuang 1st Street were sealed up, and in November of the same year, the Shanghai First Intermediate Peoples court ruled to auction all the properties.

Once a bird of the same forest, now fly separately?

Jia Yueting and Gan Wei once had an enviable life.

According to media reports, in 2004, Jia Yueting came to Beijing to start a business. Gan Wei, who was still a sophomore at that time, met Jia Yueting at a dinner party. The two men, who were 11 years younger than each other, got married four years after they met.

In May 2015, the market value of LETV once hit 170 billion yuan, and Jia Yueting, who holds the grand plan of seven ecology, has boundless scenery. In 2016, Gan Wei gave birth to another son. In that year, LETV became the first heavyweight stock on the gem. In the same year, Jia Yueting ranked 31st on the Hurun 100 rich list with a wealth of 42 billion yuan.

At that time, Gan Wei was not only Jia Yuetings virtuous wife, but also an entrepreneur with her own halo. In June 2015, Gan Wei established LeYang film and television, and in 2016, her production of Princes promotion was popular all over the network.

In June 2015, Gan Wei founded LeYang film and television. Data from Tianyan

But the moment of beauty did not last long. In November 2016, Jia Yueting, who was dedicated to car making, admitted in an internal letter that LETV had a capital chain crisis. In July 2017, Jia Yueting resigned from his post as CEO of LETV, far away from the United States and continued to build cars..

By 2018, Gan Wei has been supporting Jia Yueting. On January 3, 2018, Gan Wei published a wifes inner monologue, describing Jia Yuetings great car dream, and still firmly believed that Jia Yueting was her hero.

But Jia Yuetings mess left her in the mire. In March 2018, Jia Yueting, Gan Wei and LETV holdings were listed as dishonest Executees due to their disputes with China Thailand Innovation Exhibition.

Then the marriage seemed to have come to an end. On October 11, 2019, Jia Yueting and Gan Wei applied for divorce in the peoples Court of Jinjiang District, Chengdu.

Jias wife, Gan Wei, filed a divorce lawsuit voluntarily and submitted a certificate demanding about 571 million US dollars (about 3.98 billion yuan) of property, according to a document in Jia Yuetings application for personal bankruptcy and reorganization in the United States.

Jia Yuetings debt treatment team said that after tripartite consultation among Jia Yueting, Gan Wei and the debt Committee, Gan Wei gave up the right to give priority to the division of the couples joint property, and will be equally compensated with all creditors after the establishment of the creditors trust, and the claim only accounts for about 13% of the total trust amount. This means that only Jia Yuetings bankruptcy and reorganization and Faradays success in the future can Ganwei be able to get capital repayment together with all creditors.

But Faradays future is not optimistic. According to the documents submitted to the court by Jia Yueting in early 2020, as of December 31, 2018, Faradays future cash and restricted cash totaled only $7.4 million, with a working capital deficit of $579.1 million. As of July 31, 2019, the company has accumulated losses of $2.15 billion and liabilities of $801 million.

On July 2 before LETVs delisting, Jia Yueting publicly announced that he had completed his personal bankruptcy reorganization on June 26. He also said investors would be compensated. With the approval of my personal creditor Committee, I have reserved no more than 10% of the proportion in the creditor trust, which is mainly used for the contingent compensation of LETV shareholders. It can be implemented after completing the relevant legal procedures. I will also arrange a special team to coordinate the compensation of LETV shareholders.

Whether for investors or Gan Wei, Jia Yuetings compensation is still only a theoretical possibility. (end)