On September 2nd, Hong Kong artist Louis Koo and his founded company “One Cool Film Production Limited” were sued by an offshore company in the Hong Kong High Court for a total debt of over 149 million Hong Kong dollars, sparking industry attention.
According to court documents revealed by Hong Kong media, the plaintiff is the offshore company Sino Hero Ventures Limited registered in the British Virgin Islands, and the defendants are “One Cool Film Production Limited” and Louis Koo. The two parties signed a loan agreement on September 6, 2019, where the plaintiff lent 70 million Hong Kong dollars to Louis Koo with a repayment due date set for September 2020.
The loan details further revealed that the initial monthly interest rate was 1% (annual interest rate of 12%), and in case of late repayment, the interest rate would increase to 1.5% per month (equivalent to an annual interest rate of 18%). The parties agreed to extend the repayment deadline twice, eventually prolonging it until December 31, 2022.
As of early 2024, “One Cool” had only repaid 13.2 million. After several lawyer’s letters from the plaintiff requesting repayment, Louis Koo’s side made a payment of 700,000 on August 27, 2026. Deducting the amount already repaid, as of August 27, 2026, “One Cool” and Louis Koo still owed approximately 149 million including principal and interest. The plaintiff requested the court to order the defendants to fully repay the amount, with an additional late payment interest calculated at 18% per annum from that date onwards.
Although the plaintiff did not disclose in the documents or specify how the 70 million Hong Kong dollars loan to Louis Koo and his company was specifically used for a particular movie project or which production crew it went to, considering the timing of the agreement signed by both parties in September 2019, “One Cool Film Production Limited” was in a period of rapid expansion around that time, investing, producing, or preparing for multiple major Hong Kong film projects. Some of the renowned projects associated with the company during that period were:
– “Operation Red Sea,” which commenced prep work in 2015 and was in the intensive post-production stage around 2019 due to extensive special effects production.
– The film adaptation of “The Lost Tomb,” which started filming in April 2019 in Guizhou, wrapped up by mid-year, and moved on to post-production.
– Additionally, “Kowloon Walled City Siege” was in preparation and filming stages at that time.
The plaintiff, Sino Hero Ventures Limited, simply based its lawsuit on the grounds of “failure to fulfill the repayment agreement on time” against Louis Koo and One Cool. Whether the funds were tied to specific movie rights or box office profit-sharing arrangements will remain unknown until further proceedings and responses from both parties unfold.
As of now, Louis Koo and “One Cool Film Production Limited” have yet to publicly respond to the case, which has officially entered the judicial process.
Having a career spanning over 30 years, Louis Koo started as a popular actor at TVB and successfully transitioned into a prominent figure in the Hong Kong film industry and regarded as the “New Generation Film Mogul.” To date, he has starred in over 100 Chinese-language films. Apart from his acting achievements, one of his most remarkable accomplishments is the establishment of “One Cool Film Production Limited.”