Hong Kong – A company registered in the British Virgin Islands has initiated legal proceedings against renowned Hong Kong actor Louis Koo Tin-lok and his film production firm, One Cool Film Production Limited, alleging default on a loan that has ballooned to over HK$149 million (approximately US$19 million).
Sino Hero Ventures Limited filed a writ of summons in the High Court on Wednesday, seeking repayment of funds it claims were lent to the company seven years ago. According to the court documents, One Cool Film Production took out a HK$70 million loan in 2017, with the repayment deadline extended twice—most recently to the end of 2022.
The plaintiff asserts that the defendant has only repaid HK$13.2 million to date. With accrued interest, the outstanding amount now exceeds HK$149 million, prompting the legal action to recover the debt.
In a strongly worded statement issued on Friday, One Cool Film Production denied the allegations, calling the plaintiff’s claims incomplete and misleading. The company highlighted that the plaintiff firm was reportedly struck off the corporate register and dissolved for nearly three years during the loan period. During that time, the company says it was unable to contact any authorized representative of Sino Hero Ventures.
“The plaintiff has made disclosures in its case that violate the principle of without prejudice and the terms of the contract,” the statement read. “We reserve all rights to pursue legal remedies and will handle this matter seriously with our legal team.”
Without elaborating further, the company noted that because the case has entered judicial proceedings, it would be inappropriate to comment in detail at this stage. It thanked the public for their attention and expressed confidence in the legal process.
Louis Koo, 53, is one of Hong Kong’s most recognizable film stars and a well-known philanthropist. He founded One Cool Film Production in 2013, which has produced a range of commercial and independent films. The company has also been involved in financing and distributing movies across Asia.
The case comes as Hong Kong’s entertainment industry faces ongoing financial pressures, with the pandemic having disrupted film production and box office revenues. The lawsuit adds to a series of high-profile legal disputes involving local celebrities and production houses over the past year.
Legal experts say the case may hinge on the validity of the loan agreement during the period when the plaintiff company was dissolved. Under Hong Kong law, a company that has been struck off the register generally cannot sue or be sued until it is restored.
The court has yet to set a hearing date. Both parties are expected to submit further evidence and arguments in the coming weeks. Observers will be watching closely, as the outcome could have implications for similar corporate lending arrangements in the region’s film industry.
