Hong Kong arm of embattled Chinese conglomerate LeEco ordered by court to wind up business in city
LeEco, formerly called LeTV, is best known locally for providing television content
A Hong Kong arm of embattled Chinese conglomerate LeEco was on Wednesday ordered by a court to close down its operations in the city.
The application led to the appointment of Barry Tong Piu and David James Bennett from accounting firm Grant Thornton as the company’s provisional liquidators.
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The order was officially granted by High Court Master Hui Ka-ho on Wednesday.
LeEco, formerly called LeTV, is best known in Hong Kong for providing television content.
According to the Companies Registry, LE Corporation is a private company incorporated on June 9, 2015. It is wholly owned by Beijing-based technology firm Le.com, which is a subsidiary of LeEco, founded by Chinese entrepreneur Jia Yueting.
The wind-up came after LE Corporation faced a flurry of civil claims starting in 2016.
These included a US$224,000 lawsuit over copyright fees mounted by Hong Kong film distributor Sundream Motion Pictures in December 2016, and a HK$530,000 (US$67,700) claim by local newspaper Hong Kong Economic Times seeking outstanding advertising fees.
