Yu Yu and his wife are sued by their son! Whats on in the family?

 Yu Yu and his wife are sued by their son! Whats on in the family?

Since this year, Li Guoqing, who has failed to win the title twice, has encountered a new lawsuit, but the prosecutor is his own son.

On the evening of August 9, Dangdang founder Li Guoqing posted a micro blog saying that he and Yu Yu had been sued by their son in court, in order to ask the court to confirm the validity of the proxy agreement between Li Guoqing and Yu Yu Yu holding dangdangdang shares on their behalf. Li Guoqing said he had submitted a defense.

Li Guoqing said in the article, son, I never fear challenges from anyone. Now that youve written a letter of war, Ill fight with you under the framework of legal rules. See you in court! Good luck. In addition, another microblog on that night pointed out that my appeal has always been very simple: the court ruled that I should divorce and divide the common property equally.

It is worth noting that Li Guoqing mentioned to his son, I hope you can play a mediating role. She (Yu Yu) can only listen to you. Li Guoqing said that the power of management was compromised in the face of his son, and I tried my best to calculate my money.

Questioning Yu Yus support behind the scenes

According to the 20-year equity history of dangdang.com published on the microblog of Dangdang legal department in July this year, Yu Yu, Li Guoqing and the corporate governance layer hold 64.2%, 27.51% and 8.29% of the shares respectively. Because Li Guoqings son is a foreigner, Yu Yu, Li Guoqing and the management layer hold 18.65% of his equity in proportion.

In other words, Yu Yu and Li Guoqing held 11.97% and 5.13% shares of their sons respectively. According to Li Guoqing, he and Yu Yu became defendants in this lawsuit because his son asked the court to confirm that the agreement between his parents holding Dangdang shares for him was valid.

Li Guoqing once disclosed to the media that after the privatization of dangdang.com, Yu Yu proposed to split the shares held by the two people in half, and then advised him to give part of the shares to his son. Later, due to the sons age and nationality, Yu Yu proposed to hold his sons equity on his own. Li Guoqing agreed, and Yu Yus shareholding ratio soared, eventually exceeding 60%.

Although Yu Yu was also in the dock, Li Guoqing still pointed out that the prosecution was related to Yu Yu. Li Guoqing asked whether it was Yu Yu who supported his son behind his back. He said that although Yu Yu had become a formal defendant, Yu Yu provided the evidence materials, lawyers and lawyers fees for his sons prosecution. In fact, they were cooperating.

Li Guoqing said in the article, I have a look. All the evidence materials you have this time are provided to you by Yu Yu, right? Although this is the first time that you have filed a lawsuit, you are fully responsible for the authenticity of all the evidence. Yu Yu helped you find your lawyer, right? Is the lawyers fee paid by Yu Yu for you to sue your parents? Even if Yu Yu, who is also the defendant in form, fully cooperates with you. If you want to win, you really have a lot to go through.

Li Guoqing also revealed in the end that he had just handed in his defense. People are still afraid that the divorce will hurt you. Your behavior has clearly answered them. These worries are totally unnecessary Now that youve written, Ill fight with you under the framework of the rules of law.

Li Guoqing: holding the lawsuit on behalf of others will be used as a pawn to delay the judgment of divorce cases

Li Guoqing pointed out in another micro blog that part of the common property of husband and wife, which was likely to be divided equally, was first divided out through holding on behalf of the lawsuit. If successful, it will be very helpful to keep Yu Yus control in Dangdang. For this reason, Yu Yu did not hesitate to pay the price that the relationship between father and son might be destroyed. It makes me drunk, too.

In addition, Li Guoqing said that the holding on behalf of the lawsuit will undoubtedly be used as a pawn to delay the decision of divorce cases indefinitely. What he has been asking for is very simple: the court decides to divorce and divide the common property equally.

According to the Hurun 100 rich list in 2019, the wealth of Li Guoqing and Yu Yu is about 7 billion yuan. The main source of wealth is dangdang.com, which is jointly founded by them. Yu Yu has the absolute advantage. According to Tianyan data, Yu Yu holds 64.2% of dangdang.com, which is the largest shareholder; Li Guoqing holds 27.51%, ranking the second largest shareholder. Compared with dangdang.coms IPO in 2010, Li Guoqing held 38.9% of shares and Yu Yu only held 4.9% of shares. Their shareholding ratio today can be described as a big reversal.

In 2016, due to poor market performance, dangdang.com was privatized and delisted with a market value of $556 million. After the privatization of dangdang.com, Li Guoqing and Yu Yu held 93.17% shares. According to the information provided by the local authorities, the shares of dangdang.com had been legally divided at that time. Yu Yu, Li Guoqing and their sons signed a document, with the shareholding ratios of 56%, 24% and 20% respectively. During the period, many people, including lawyers, Li Guoqing, Yu Yu, and the companys management, participated in the process. Since then, Li Guoqing has gradually faded out of the decision-making and management of Dangdang,

Li Guoqing once told the media that he was based on his trust in Yu Yu. After his persuasion, he had a declining shareholding ratio. Therefore, when Li Guoqing and Yu Yu divorced, whether to divide the family property equally or according to the previously agreed proportion has been debated endlessly.

In other words, Yu Yu believes that even if the two parties divorce, the property division of the two people should also be distributed according to the equity proportion of the previous dangdangdang privatization.

Generally speaking, if there is no written property agreement between husband and wife, the equity of both parties and the income corresponding to the equity will be regarded as the joint property of husband and wife, and they should be divided equally in principle.

And whether the shareholding documents signed by Yu Yu, Li Guoqing and their sons in 2016 are binding when the couple divorces and divides the property? Some people in the legal field said that the equity ratio of industrial and commercial registration is not equal to the joint property proportion agreed by the husband and wife. If the two parties do not explicitly agree on the share of property in writing, or reach a solution through negotiation, and the articles of association do not make clear provisions on the way to change the shareholders equity when they divorce, they should be divided equally in principle. Either of the husband and wife can file a lawsuit to the court according to law and wait for the courts judgment. However, the choice of marriage law or company law will lead to different judicial results.

Source: Securities Times editor in charge: Wang Fengzhi_ NT2541