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Original title: Evergrande Real Estate defaulted on advertising fees and sufferedLeo sharesProsecute and apply for preservation of 356 million yuan
On August 2, Leo Shares announced that because Evergrande Real Estate did not pay the advertising fees as agreed in the contract, Jusheng Wanhe, a wholly-owned subsidiary of the company, filed litigation and property preservation with the relevant courts. The total amount of application for preservation was 356 million yuan.
The announcement shows that Jusheng Wanhe has been providing advertising publishing services for Evergrande Real Estate. Jusheng Wanhe has fully fulfilled its advertising obligations in accordance with the contract, but Evergrande has not paid in time as agreed in the contract.
According to the announcement, on December 28, 2020, Evergrande produced a “About Jushengwanhe 2021 Payment Plan”, confirming that it should pay a total of 160 million yuan for advertising business by the end of 2020. Subsequently, Evergrande Real Estate successively paid part of the advertising fees to Jusheng Wanhe. As of April 30, 2021, Evergrande Real Estate is still in arrears with Jusheng Wanhe for advertising expenses of RMB 71,234,400 and penalty for late payment of RMB 16,194,500. Jusheng Wanhe repeatedly asked Evergrande Real Estate to pay advertising fees, but Evergrande Real Estate failed to pay.
The announcement stated that Jusheng Wanhe signed a number of advertising contracts with Evergrande Real Estate, and Evergrande Real Estate paid advertising fees to Jusheng Wanhe in the form of a commercial acceptance bill. The total amount of the commercial acceptance bill was 269 million yuan. As of June 3, 2021, Evergrande Real Estate failed to pay the three commercial acceptance bills due on May 19, 2021, with an amount of 5,563,800 yuan, and another 17 commercial acceptance bills are about to expire.
Leo Shares stated in the announcement that Jusheng Wanhe repeatedly requested Evergrande Real Estate to pay the due commercial acceptance bills, but Evergrande Real Estate failed to make the payment and did not confirm the payment time. And Jusheng Wanhe learned that Hengda Large real estate has a large number of due commercial acceptance bills that fail to be paid, and the ability to perform contracts is poor.
Jusheng Wanhe filed a litigation request with the court, requesting that the defendant be ordered to pay the plaintiff an advertising fee of 71,234,400 yuan and a penalty of 16,194,500 yuan for overdue payment, totaling 87,428,900 yuan. In addition, it requested that the defendant be ordered to pay the plaintiff an additional 269 million yuan in advertising fees and 71,100 yuan in breach of contract damages for late payment. The plaintiff has demanded that the defendant immediately pay 71,234,400 yuan for advertising fees and 16,194,500 yuan for breach of contract damages for late payment. The total subject matter of this case is 356 million yuan.
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Editor in charge: Zhang Yi
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