Troubled China tech giant LeEco confirms assets frozen

135 reads

From: Hindustan Times By Agence France-Presse
Recommended by: Hindustan times



Assets linked to Chinese tech giant LeEco have been frozen in a dispute with a creditor, a unit of the troubled company has confirmed, highlighting the firm’s perilous financial state.

Chinese financial magazine Caixin first reported Monday that a Shanghai court had ordered the freezing of 1.237 billion yuan ($182 million) in assets connected to LeEco, its subsidiaries, and billionaire founder Jia Yueting.

The court ruling was in response to legal action brought by China Merchants Bank over unpaid loans to a LeEco smartphone unit, Leview Mobile.

LeEco was founded in 2004 by Jia to provide online video streaming but has since launched aggressive forays into self-driving cars, smartphones, film-making, and sports broadcasting rights that have plunged it into a cash crunc


Read Original :Troubled China tech giant LeEco confirms assets frozen

Trending

57
sethgodin's picture

Signal to noise ratio

It’s almost impossible to have a substantive conversation at a soccer match. It’s too loud. Too much noise. It’s exhausting to listen to some politicians speak, because there’s nothing being said. Not enough signal. Signal to noise ratio is the
71
cryptocurrency's picture

Bitcoin Hits Lowest Level Again—This Time Last Year Things were Very Different!

Bitcoin has hit its lowest level again this year. Is it the beginning of the end for Bitcoin? I bet that question has been asked many times over in 2018.Bitcoin gained house-hold name status around Thanksgiving last year. That was the kind of year
76
johnsullivan's picture

End Your Seasonal Recruiting Problems — The Top 10 Proven Solutions

Why You Are Losing “The War For Seasonal Talent” Explained Managers who must recruit seasonal staff need to wake up and realize that the recruiting landscape has changed. Today’s managers must learn that recruiting is now much more difficult. In...
123
cryptocurrency's picture

Billions Are Flowing Into The Logistics Industry To Solve Today’s Delivery Issues

Meet LiteLink Technologies (CSE:LLT), Creator of the Most Comprehensive Logistics Solution The Sector Desperately NeedsHidden beneath the booming retail economy that’s seen e-commerce sales double over the last five years is what some call the
138
businessstandard's picture

Beyond the scripted code of conduct

The resignation of Binny Bansal of Flipkart is the latest in a series of departures of heavyweight CEOs in recent months.While the background of each of these resignations is different, there is a common pattern with deeper implications linking them
141
sethgodin's picture

Avoiding the curse of the low-hanging fruit

A new organization launches and finds excited and willing customers. These are the early adopters. The nerds. The people who knew they had a problem. These are the easy sales, the folks who will wait in line. And then the curse can set in. You will
187
johnsullivan's picture

Attract Quality Candidates by Thinking Like a Product Marketer

Talented people are bombarded with opportunities. So many that yours could easily be lost in the crowd. There’s a simple way to make your opportunities stand out — package your jobs as if you’re marketing a product. I was reminded...
206
sethgodin's picture

An inconvenient shopping list

Cyber Monday (inspired by its evil cousin, Black Friday) is a symptom of our obsession with convenience. As Tim Wu has pointed out, convenience trumps privacy, morality and good judgment for too many of us–the internet has made things faster, and