Lingxi Vaping Faces Court Enforcement Over 5.45 Million Yuan Debt
According to reports on July 3 and data from Qichacha, the Second People's Court of Dongguan, Guangdong recently ruled to terminate enforcement in a vaping product payment dispute. If assets of the party subject to enforcement are discovered, the applican
On July 3, news reported that according to data from Qichacha, the Second People's Court of Dongguan City, Guangdong Province, recently issued a ruling to terminate the enforcement of a case involving e-cigarette payment. If the executed party is found to have assets, the applicant may apply for enforcement again.<\/span><\/div>
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The parties involved in this e-cigarette enforcement case are the once-popular e-cigarette brand Lingxi and the other parties are the supply chain companies Honeycomb Factory and New Efa Technology. The three parties began cooperating in 2019, with the latter two helping Lingxi manufacture e-cigarettes. After the online sales ban in November 2019, Lingxi gradually exited the small e-cigarette market, leaving behind debts owed to the supply chain.<\/span><\/div>
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The court's enforcement ruling shows that Lingxi needs to pay Honeycomb Factory 4.61 million yuan, with interest of 190,000 yuan, delayed performance interest of 9,000 yuan, case acceptance fee of 22,000 yuan, preservation fee of 5,000 yuan, and enforcement fee of 50,000 yuan, totaling 4.89 million yuan. Additionally, Lingxi must pay New Efa Technology 520,000 yuan, with interest of 20,000 yuan, delayed performance interest of 1,000 yuan, case acceptance fee of 4,500 yuan, preservation fee of 3,000 yuan, and enforcement fee of 7,900 yuan, totaling 560,000 yuan.<\/span><\/div>
The total debt amounts to 5.45 million yuan.<\/span><\/div>
The total debt amounts to 5.45 million yuan.<\/span><\/div>
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During the enforcement process, the court found that Lingxi still had bank deposits of 135,000 yuan. After deducting the enforcement fee of 1,920 yuan, the remaining amount of 133,000 yuan was returned to the two applicants, with Honeycomb Factory receiving 120,000 yuan and New Efa Technology receiving 12,000 yuan.<\/span><\/div>
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The court found that, apart from this, no other enforceable assets of Lingxi were discovered, and the two applicants did not provide clues to any enforceable assets of Lingxi, resulting in the remaining creditor's rights of the applicants not being realized.<\/span><\/div>
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Based on this, the court made a ruling to terminate this enforcement procedure, stating that if the applicants find any enforceable assets of Lingxi, they may apply for enforcement again.<\/span><\/div>
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