Court to freeze LeEco assets

Updated 2017-08-02 10:11:33 Global Times

A Beijing court has granted a motion by China Construction Bank (CCB) to freeze the assets of LeTV Holdings and LeEco founder Jia Yueting, with a total value of 250 million yuan (.2 million), according to news site 163.com.

The freeze of bank deposits will last for one year, movable property will be sealed for two years, and the seizure of immovable assets and freeze of other property rights will last for three years.

With the funding crisis yet to be eased, LeEco is seeing more and more financial institutions to join in court actions as creditors, the report also said.

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