In 2012, Stephen Chow’s ex-girlfriend Alice Yu sued the comedian for around $70 million Hong Kong dollars, an amount she claimed he had owed her due to commissions on the sale of their luxury house. She received only HK$10 million, which Stephen referred to as “gratuitous payment.”
Over the years, while they were in a relationship, Alice acted as Stephen’s financial consultant and helped him make profits through real estate investment. Stephen would pay her a salary every month, and they had made an oral agreement that Stephen would pay Alice with a 10 percent bonus from the after-tax profits made in successful investments as commission.
Stephen, however, had denied owing her commission.
This case will be officially taken to High Court next month.
Meanwhile, Stephen is also under financial pressure from investors of his film production company. Due to the COVID-19 pandemic, the cinema release of Stephen’s The Mermaid II <美人魚II> is indefinitely postponed. Rumors say that investors are demanding at least HK$200 million from money lost due to the postponed release.
According to a report, an investor bought HK$1.3 billion shares in Stephen’s film production studio Star Overseas Ltd., and signed a contract which specified that the company has to earn at least HK$1 billion in four years.