Do you still remember Stephen Chow? He is a feature film actor from China who has starred and directed in a number of top films such as Kung Fu Hustle, Shaolin Soccer and many more.
Well, after a long absence of news, now the 58-year-old man is reportedly going bankrupt. Not only that, Chow was also in debt to his former lover, Yu Manfung, worth 699 billion Rupiah.
Chow is known to have had financial problems since his relationship with Yu Manfung ran aground 10 years ago. The woman who has been Chow’s partner for the past 13 years has filed a claim of 14 million USD or the equivalent of 206 billion Rupiah.
The suit was filed in connection with a commission on the sale of luxury homes in an elite area in Hong Kong.
In her report, Manfung admitted that she should have received a commission of 10 percent from the sale of the house. However, Stephen Chow at that time only gave her 25 billion Rupiah.
Chow then refused to give the remaining commission he promised Manfung, because he thought the commission was not a debt, only a symbol of gratitude.
Not accepting this, Manfung brought the case to the realm of law and the first trial will begin in November.
In addition, Stephen Chow is also in other debt with a number of investors.
In 2016, he even had time to borrow a fund of USD 230 million from an investor to develop the company, with the promise to return a larger amount within four years.
The first three years the company recorded huge profits and was able to generate profits of up to USD 117 million. However, in the 4th year he was only able to provide the investors with a profit of USD 30 million after the economy was destroyed due to the Coronavirus pandemic.
On the one hand, the film company under its auspices cannot operate properly in line with the ongoing Coronavirus pandemic.
Because he was deemed unable to achieve the promised target, the investor demanded Stephen Chow to return the money in a short period of time.