Hong Kong actor Louis Koo faces a lawsuit from his business partner over an alleged failure to repay a $1.43 million loan from nearly a decade ago.
According to South China Morning Post, court documents reveal that Koo and Hong Kong film producer Alex Dong invested HK$24.9 million in Eyeteam Limited, a fashion company that distributes products from popular brands such as Evisu and A Bathing Ape.Despite initiating the joint venture, Koo allegedly asked Dong to cover his share of the initial HK$16.6 million investment as he did not have enough money at the time.
In 2014, Koo and Dong decided to invest in the company that operates Ming Kitchen restaurant at Moreton Terrace in Causeway Bay. South China Morning Post reported that Dong’s legal team is not only seeking the repayment of the HK$8.3 million, but is also demanding a judicial declaration that Koo’s shares in Product Power and Wealthford International be held “on trust in favour of Dong”, compelling Koo to transfer these shares to Dong upon request.