Louis Koo and production house sued for $149 million over unpaid loan

Louis Koo Tin Lok and his production company, One Cool Film Production Limited, were sued by an offshore company on Wednesday over an alleged HK$70 million loan made seven years ago with the outstanding principal and interest, totaling more than HK$149 million, remains unpaid to date.

Koo and his production house twice extended the repayment deadline to the end of 2022. However, as of early 2024, only HK$13.2 million had been repaid.

The plaintiff is Sino Hero Ventures Limited, a company registered in the British Virgin Islands.

According to the writ of summons, the parties signed a loan agreement on September 6 in 2019, under which the plaintiff lent HK$70 million to Louis Koo and One Cool Film. The loan was originally due for repayment on September 17 of the following year, with an annual interest rate of 12 percent, which would rise to 18 percent in the event of default.

Before the due date, the parties twice agreed to extend the repayment deadline, by one year and by approximately four months respectively.

However, One Cool Film had repaid only HK$13.2 million by early 2024 and HK$700,000 repayment was made last month under the plaintiff’s repeated demands for payment. The outstanding balance, comprising principal and interest, now exceeds HK$149 million, prompting the filing of this lawsuit.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓