In 2015, Chinese actor and Faye Wong’s ex-husband Li Yapeng was sued by an investment company after their business deal fell through. 

After six years and two unsuccessful appeal attempts, the actor was ordered to pay $180mil yuan (S$37mil), which takes into account interest and court fees. 

The 50-year-old actor later took to his Weibo on Jul 14 to address the verdict, declaring that he will “respect the court’s decision”.

Yapeng was sued in 2015 after he failed to pay a 40mil fine for the unsuccessful partnership

According to reports, Yapeng’s Lijiang Snow Mountain Investment Company entered a partnership with Beijing Taihe Youlian Investment Company in 2012, where the latter invested 60mil yuan (S$12.3mil) as part of their deal. 

Based on the agreement, Beijing Taihe Youlian Investment Company was promised a 40mil yuan (S$8mil) return after three years. 

However, in 2015, Yapeng decided to transfer his shares in the company and withdraw his investments in the project. As a result, the actor had to make a S$8mil compensation to the partnering company.

After he failed to pay the forfeit, a lawsuit was filed against Yapeng, his older brother, and Lijiang Snow Mountain Investment Company. The judges later ruled in favour of Beijing Taihe Youlian Investment Company.

Yapeng had since made two appeals against the court's rulings, but his second appeal was dismissed in June this year.

Now, on top of the original S$8mil penalty, Yapeng and his brother are required to pay an additional interest fee which costs tens of millions, as well as $240,000 yuan (S$50K) for court fees.

He still seems very optimistic, though

In his Weibo post, Yapeng wrote that as a citizen, he “resolutely respects the court's decisions and would try [his] best to adhere [to their orders]."

He also took the opportunity to clarify that he's never "borrowed money from the other party" and was only “taking responsibility for the company's promise to [them]".

Yapeng then went on to say that the ordeal over the past five years has helped him grow to be a better person and he thanks everyone for their support and concern. 

Photos: Li Yapeng/Weibo, star.ettoday