Li Yifeng's Asset to be Frozed by the Brand He's Endorsed

 

After Li Yifeng's prostitution case exposed last year, Li Yifeng is once again in the hot water.

As found on the Tianyancha App recently, Zhejiang Bach Kitchenware Co., Ltd. and Shanghai Fengyan Cultural Media Center have made public the non-litigation preservation review ruling of the arbitration procedure. (i.e. both parties decided to handle the dispute without going to the court.) The document shows that the applicant Zhejiang Bach Kitchenware Co., Ltd. had a dispute with the respondent Shanghai Fengyan Cultural Media Center, and thus requested to seal up and freeze the respondent's property worth 805,000 RMB (~ 118,000 USD). 

After examination, the court held that the applicant's application complied with the law and ruled to enforce it. 

Shanghai Fengyan Culture was established in 2018 with a registered capital of 1 million yuan and the investor is Li Yifeng. It is also reported that Li Yifeng used to be the brand ambassador of KoBach, a brand of Zhejiang Bach Kitchenware Co., Ltd. After the prostitution incident of Li Yifeng was exposed, KoBach announced the termination of cooperation with him.

What do you think of this dispute?

Source 1, 2.