Hong Kong arm of embattled Chinese conglomerate LeEco files petition to wind up business

December 21, 2017
Industry News
Content Provided By:

Celia Chen
[email protected]

Court records show application lodged by LE Corporation, but impact on television content provider’s services in Hong Kong is unknown"

A Hong Kong arm of embattled Chinese conglomerate LeEco has filed a petition to wind up its business operations in the city, court records show.

The application to liquidate the business was lodged by LE Corporation on Wednesday, according to court documents.

Details remained unknown as the court records did not provide any further information other than the company’s name and the identity of its creditor.

LeEco was formerly called LeTV and is best known in Hong Kong for providing television content.

What impact the shutdown would have on the city was not clear on Thursday.

In a statement published on LeSports HK’s Facebook page, the firm’s sport division, which airs the English Premier League and NBA games, distanced itself from LE Corporation, stressing that they were two different entities.

“The winding-up application for LE Corporation Limited has nothing to do with LeSports HK. Nor will it have any impact on LeSports HK’s business,” it said.

According to the companies registry, LE Corporation is wholly owned by Beijing-based technology firm Le.com, which is a subsidiary of LeEco, founded by Chinese entrepreneur Jia Yueting.

But the presence of LeEco in Hong Kong apparently also takes the form of other companies including LeEco Hong Kong Co and LeEco APAC.

Hong Kong functions as a base for LeEco’s headquarters in the Asia-Pacific region.

The wind-up petition comes after a flurry of civil claims began heading the way of LE Corporation starting last year. Continue Reading

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