Stephen Chow Involved In Dispute With Hua Yi Brothers Due To Movie Profits
Cybelle Go | | Apr 16, 2015 09:25 AM EDT |
(Photo : Kit Liew Via via Wikimedia Commons )
'Kung Fu Hustle' star Stephen Chow is involved in a profit dispute with the Hua Yi Brothers, a production company who manages more than 100 celebrities in China.
The 52 year actor recently filed a lawsuit against the entertainment company, demanding a fair share for the profits of his box office movie, Journey to the West II: Conquering The Demons, according to Jaynestars News.
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Chow's holding company, Wei Ying Investment Litd, sued Hua Yi brothers due to a breach of contract, emphasizing that Chow and Wang Zho Jun, one of the founders of the Hua Yi Brothers company, had a verbal agreement that the latter would provide a 'bonus payout' should the movie earnings reach up to 500 million RMB.
Chow allegedly stated that the movie's total profit reached up to 1.248 billion RMB, more than the quota mentioned by Hua Yi Brothers.
The actor claimed that he was entitled to a share of 177 million RMB from the movie's overall profit and the company owed him a hefty amount of 86.1 million RMB out of that share.
However, no 'bonus payment' was ever given to the actor despite the verbal agreement.
In defense, Hua Yi Brothers' legal representative claimed that both parties signed an agreement stating their mutual aid.
In addition, Chow's claim over a verbal agreement between him and the company was neither signed nor executed. The agreement was defined as 'legally unenforceble'.
The company also stated even if the agreement was legally enforceable, the overall profit was divided among the theaters and distributors, leaving the total profit less than 500 million RMB. As stipulated in the 'verbal agreement', no bonus payment will be made since it is declared null and void.
The Beijing No. 3 Intermediate People's Court officially released the result of the case between Chow and Hua Yi Brothers, declaring that the case was rejected since the agreement wasn't signed and sealed.
Chow is considering an appeal for the case, according to his official representative.
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