13th October 2020 – (Hong Kong) Stephen Chow, Hong Kong filmmaker, actor, producer, political adviser of the Chinese People’s Political Consultative Conference has recently been sued in a HK$70 million suit by his ex-girlfriend Alice Yu. She accused him of failing to pay her the commission for the sale of their home and she claimed that she has only received HK$10 million as “gratuitous payment”.
According to Entertainment portal Jayne Stars, Yu had acted as Chow’s financial consultant and helped him to make profits through real estate investments when they were a couple and Chow would pay her salary every month. They also had an oral agreement that Chow would pay Yu a 10 per cent bonus from the after-tax profits made in successful investments.
Stephen Chow’s latest movie release ‘The Mermaid II’ has also been postponed indefinitely. His investors are demanding a payment of at least HK$200 million due to the delay.
According to a report, an investor bought shares in Chow’s film production studio Star Overseas Ltd. worth HK$1.3 billion. He signed a contract which specified that the company has to earn at least HK$1 billion in four years. However, Star Overseas Ltd. has yet to meet any milestones set in the contract in the past three years, earning only HK$600 million.