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

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

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.

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.

Jia Yueting pledged 19.52 million LETV shares for the loan, while Lefeng pledged 897 million shares of Coolpad. In June 2017, China Merchants Bank failed to fulfill the obligation to make up the deposit as agreed, and failed to pay the current interest on June 20, 2017 according to the contract. China Merchants Bank sued the four guarantors to the court, requiring the four parties to bear the responsibility according to the contract.

Screenshot of Shanghai Higher Peoples court

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.

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.

Information map. Jia Yueting.

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.

Beipiao Jia Yueting founded LETV in 2007 and focused on Internet video services.

As LETV purchased a large number of movie and TV series copyright at low price, and stepped on the wind of transformation of video website, LETV gradually developed and grew stronger. In 2010, LETV was officially listed on the gem, becoming the first stock of online video in a share.

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.

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

After Jia Yueting left the United States, Gan Wei stayed at home to help deal with the debt problem. After returning from the United States on December 31, 2017, Gan Wei officially announced that she would work with Jia Yuetings brother Jia Yuemin to exercise the rights and responsibilities of shareholders of the listed company and conduct asset disposal.

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.

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, Jia Yueting published a micro blog article.

However, LETV later issued a paper saying that the shareholders of LETV are not creditors of Jia Yuetings personal debts. The company can not judge whether LETV shareholders can apply for compensation to Jia Yueting in the future, nor can it judge the feasibility of the above reserved trust assets to compensate LETV shareholders. Please pay attention to the risks and invest rationally.

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