The finance company claimed to provide Fulinmen with a second-mortgage loan of 6 million yuan in 2020. Fulinmen used the shop in Liwen Building in Wanchai as the mortgage. Xu Deqiang, Xu Deqiang's father Xu Peijun, and Xu Deqiang's sister Xu Shuhua served as loan guarantors. Fulinmen and others have failed to repay all the arrears on time, and have owed more than 9.67 million yuan in total so far.
The finance company filed a complaint with the High Court last Friday (13th), requiring Fulinmen, Xu Deqiang and others to pay off the money involved, and Fulinmen to hand over the mortgaged property.
The plaintiff is Shanqiao Finance Co., Ltd., and the defendants are Fulinmen Restaurant Co., Ltd., Xu Shuhua, Xu Peijun and Xu Deqiang in sequence.
Loan with Wan Chai store as collateral
The plaintiff pointed out in the filing that Xu Shuhua, Xu Peijun and Xu Deqiang were the former directors of Fulinmen Restaurant.
According to multiple agreements dated May 14, 2020, the plaintiff borrowed RMB 6 million from Fulinmen Restaurant, while Fulinmen mortgaged Shop 2B on the ground floor and the first to third floors of Liwen Building, Johnston Road, with Xu Shuhua, Xu Peijun and Xu Deqiang as guarantors .
Requested to postpone the repayment period for non-repayment
Xu Shuhua later informed that she would not be able to repay the loan on time, and the plaintiff and several defendants reached an agreement twice to postpone the repayment period.
However, the plaintiff pointed out that several defendants failed to repay the arrears before the deadline of August 14, 2020.
The plaintiff continued that the defendant repaid part of the arrears after the deadline.
However, as of January 13 this year, the defendant owed a total of more than 9.67 million yuan in principal and interest.
The plaintiff now demands that the defendants pay off the money involved, and Fulinmen Restaurant hand over the mortgaged property.
Case number: HCA62/2023
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