Stephen Chow Sued for $70 million by Alice Yu

By on September 5, 2012 in NEWS, Scandals

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Stephen Chow’s (周星驰) ex-lover is suing him for $70 million HKD in commissions for the expected sale of a luxurious property that he owns.

Alice Yu (于文凤), a fan of Stephen Chow who later became good friends with her idol, dated Stephen for 13 years. She had  been appointed as the financial consultant to Stephen’s company, The Star Overseas Limited. Although the couple separated in March 2010, Alice continued to stay as the financial consultant until September last year.

In her writ, Alice stated that Stephen and she signed an agreement in 2002 to stipulate her fee for her advisory services. In return for her financial advice, Stephen will pay her a monthly fee ranging from $20,000 HKD to $59,000 HKD. Aside from the stipulated advisory fee, Stephen had also verbally agreed to designate 10 percent commission from net profits.

Alice stated that Stephen had paid her approximately $20 million HKD in commissions from May 2007 to January 2010. Alice also claimed that Stephen was supposed to pay her $80 million HKD commission for a property at the Peak, in which she had collected $10 million HKD in March this year. However, Stephen stopped paying the balance afterward.

Alice Yu Helped Stephen Chow Earn Lucrative Profits

Alice Yu, whose father founded HKC Holdings Limited, revealed that she had gathered intelligence that Citibank intended to auction a property development area in Pollock’s Path, Hong Kong. She subsequently advised Stephen to bid for the project. After successfully clinching the lucrative deal, Alice also introduced Ryoden Development Limited to collaborate with Stephen as he was short of funds to develop the massive project.

As four luxurious mansions were built, they were divided equally between Ryoden Development and The Star Overseas. Alice collected a commission of $15 million HKD from the sale of the two properties in 2009.

Ryoden Development sold the third property for a record $800 million HKD. Alice asserted that the fourth property, owned by Stephen, is also worth the same amount when it is sold. Thus, Alice is contesting Stephen for the $80 million HKD in commissions.

Financial Disputes

In her writ, Alice disclosed that she and Stephen had agreed on the $80 million commission. Instead of paying her a lump sum, Stephen proposed to stagger the payment in three years. Stephen suggested paying $10 million HKD per year and the balance will be paid after the sale of the property. Alice eventually rejected the proposal.

Alice then counter-proposed to Stephen that he paid the commission to her by installments, but it was rejected by Stephen. In March this year, Stephen reportedly paid $10 million HKD to Alice and requested her not to take any legal action against him. It was understood that Alice took legal action against Stephen when stopped paying her the balance since March.

Stephen, through his lawyer, denied paying $10 million HKD and dismissed the delay of the property commission.

Sources: Cqnews.net, QQ.com

This article is written by Stella for JayneStars.com.

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20 comments to Stephen Chow Sued for $70 million by Alice Yu

  1. EkinFan says:

    Stephen Chow is the best

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    • ChowManFatt replied:

      .. Is the best of what?

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      • stephen chow replied:

        for doing your mom!

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      • LoL replied:

        sammmmmmmmmmm soooooooooooook

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      • Seanshine replied:

        Saaaaammmmmshikaaaa!!!!

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    • salamander replied:

      What happen to Stephen now besides being lawsuits and have rumours of fighting with people.

      Login or Register before you can reply to salamander
    • yuaida replied:

      Actually, he’s quite the A-hole but most of us just don’t get to see that side of it……I’ve only read about it too but agree with other’s that he’s quite the A-hole…..

      Login or Register before you can reply to yuaida
      • vivien replied:

        Yah. I also keep hearing that Stephen is an @$$hole LOL. Whether on filming set or to people in his life.

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    • Seanshine replied:

      She looks like the RIGHT woman to deal with Chow . Home girl looks like she doesn’t play.

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  2. Hannahh says:

    I Like Stephen as an actor but not him.

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    • jacq replied:

      a guy of this malicious nature shall not deserve any means of help and loyalty from this super smart gal

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  3. lol says:

    When will he start acting and produce movies again? Now his career and his images are both falling. Many people said he’s hard to work with too.

    Login or Register before you can reply to lol
  4. Queen says:

    Wow! this women look fierce with that pair of eyes like going to eat you up !

    Login or Register before you can reply to Queen
    • jacq replied:

      dont say like that. This kind of loyal&supportive woman is hard to find these days.

      Too sad because her loyalty to him has been opened to abuse by this moron stephen.

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  5. Kidd says:

    His ex-girlfriend looks like Gigi Leung.

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  6. Charbydis says:

    Sue him! Alice did a lot for Stephen’s career during their time together, being the woman behind a sucessful man, and what did she get in the end?

    As much I do like Stephen on screen, I side with Alice, she should take what she deserves.

    Login or Register before you can reply to Charbydis
    • jacq replied:

      well said.

      She shall be treated as a woman with full respect for what she had contributed to her all these years and shall not be abused by any means by his old dirty stephen!

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  7. YiJung says:

    Stephen Chow is the biggest star in China and I love his movies. Don’t you dare to smear him!

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    • jacq replied:

      i like stephen only as an actor but never as a person in real life.

      As a person, he’s a real disgusting guy. He not just cheats a gal’s love but also her money.

      This is totally unacceptable and is a huge insult to our female’s race and population.

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      • YiJung replied:

        The whole thing is about millions of HKD dollars and that is much money. But of course Stephen should pay for his agreement with Alice. I would reconsider too like Stephen if I would pay that much money to Alice.

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