Former Luckin Chairman Loses Control of Coffee Chain in Court
Former Luckin Chairman Loses Control of Coffee Chain in Court
*DJ British Virgin Islands Court Rules in Favor of Winding Up Charles Lu's Shares in Luckin Coffee -- Sources
*DJ 英屬維爾京群島法院裁定有利於清盤盧查爾斯在 Luckin 咖啡的股份-消息來源
(MORE TO FOLLOW) Dow Jones Newswires
(更多關注) 道瓊斯通訊社
July 14, 2020 07:27 ET (11:27 GMT)
2020 年 7 月 14 日上午 07 時 27 日（格林威治標準時間 11:27）
*DJ Centurium Capital Has the Most Voting Rights in Luckin Coffee -- Sources
*DJ 新世紀資本擁有 Luckin 咖啡最多的投票權-消息人士
(MORE TO FOLLOW) Dow Jones Newswires
(更多關注) 道瓊斯通訊社
July 14, 2020 07:27 ET (11:27 GMT)
2020 年 7 月 14 日上午 07 時 27 日（格林威治標準時間 11:27）
*DJ Liquidator KPMG is the biggest shareholder of Luckin Coffee -- Sources
*DJ 清盤人畢馬威是樂信咖啡的最大股東-消息來源
(MORE TO FOLLOW) Dow Jones Newswires
(更多關注) 道瓊斯通訊社
July 14, 2020 07:27 ET (11:27 GMT)
2020 年 7 月 14 日上午 07 時 27 日（格林威治標準時間 11:27）
DJ Former Luckin Chairman Loses Control of Coffee Chain in Court
DJ 盧克銀前主席在法庭上失去對咖啡連鎖店的控制權
By Jing Yang
楊靜
HONG KONG-- Charles Lu, the co-founder and former chairman of Luckin Coffee Inc., has lost control of all his shares in the Chinese coffee chain following a recent court ruling, according to people familiar with the matter.
HONG KONG—— Luckin Coffee Inc. 的聯合創始人兼前主席 Charles Lu 在最近的法院裁決後失去了他在中國咖啡連鎖店的所有股份的控制權。
A court in the British Virgin Islands granted on July 9 an application by banks to wind up Haode Investments Inc., an entity controlled by Mr. Lu's family trust that holds Luckin shares, and appointed KPMG as the liquidator of the assets, according to the people.
英屬維爾京群島的一家法院於 7 月 9 日批准銀行申請清盤豪德投資公司。豪德投資公司是由盧先生的家族信託控制的實體，持有 Luckin 股份，並任命 KPMG 為資產的清盤人。
Mr. Lu has 14 days from the date of the ruling to appeal the decision, some of the people said. He didn't respond to requests for comment.
一些人表示，呂先生表示，自裁決之日起 14 天內就該決定提出上訴。他沒有回應要求的評論。
With the court's decision, Centurium Capital, a Chinese private-equity firm and an early backer of Luckin, has the most voting rights in the company, thanks to its holdings of so-called Class B shares that carry 10 times the votes of regular shares. Centurium now controls about 43% of Luckin's voting rights, according to a person familiar with the matter and calculations based on Luckin's filings.
在法院的裁決下，Centurium Capital 是一家中國私募股權公司，也是 Luckin 的早期支持者，擁有該公司投票權最多，這要歸功於其持有所謂的 B 類股票，這些股票是普通股票的 10 倍。根據熟悉此事並根據 Luckin 的文件進行計算的人稱，Centurium 現在控制了 Luckin 的投票權約 43％。
On Monday, Luckin said Mr. Lu stepped down from the chairman post and is no longer a director on its board after a shareholder meeting last week. He has been replaced by Jinyi Guo, a longtime business associate of Mr. Lu's who will also serve as Luckin's permanent chief executive.
週一，Luckin 表示，陸先生從董事長崗位下台，上週股東大會後不再是董事會上任董事。他已被陸先生的長期商業夥伴郭金怡取代，他還將擔任 Luckin 的常任首席執行官。
The Wall Street Journal reported last week that Mr. Lu determined the outcome of the shareholder vote, which has changed the composition of the company's board of directors.
《華爾街日報》上周報道，呂先生決定了股東投票結果，改變了公司董事會的組成。
Mr. Lu, who used to be Luckin's largest shareholder, defaulted on a $533 million margin loan from banks including units of Credit Suisse Group AG, Morgan Stanley, Goldman Sachs Group Inc., Barclays PLC, CICC and Haitong International after a disclosure of fabricated sales by Luckin caused its American depositary shares to plunge in value. Luckin's market capitalization topped $12 billion in January and has since fallen to less than $1 billion.
曾經是 Luckin 最大股東的呂先生違約從包括瑞信集團股份公司、摩根士丹利、高盛集團 Inc.、巴克萊集團、中金和海通國際等銀行單位的 5.33 億美元保證金貸款，導致其美國存託股價值下跌。Luckin 的市值突破 $12 十億在一月，此後已下降到不到 $1 十億.
The three-year-old upstart rival to Starbucks Corp. in China revealed in April that more than $300 million of its 2019 sales were fabricated. Luckin has fired co-founder and CEO Jenny Qian and more than a dozen other employees, and its shares have been delisted from the Nasdaq Stock Market. They now trade on the over-the-counter market.
星巴克公司在中國的三歲新貴競爭對手 4 月透露，其 2019 年銷售額中超過 3 億美元是製造的。Luckin 已解僱聯合創始人兼首席執行官錢珍妮和十多名其他員工，其股份已從納斯達克股票市場除牌。他們現在在非處方市場上交易。
Banks earlier seized and sold some Luckin shares owned by Mr. Lu and Ms. Qian, and took legal action to wind up other entities in another offshore jurisdiction that Mr. Lu and his sister controlled.
銀行早前檢獲並出售由陸先生和錢女士擁有的一些 Luckin 股份，並採取法律訴訟，將陸先生和其姐姐控制的另一個離岸司法管轄區的其他實體清盤。
The British Virgin Islands court has also granted creditors' application to wind up Summer Fame Ltd., an entity controlled by the family trust of Ms. Qian that holds Luckin shares, the people familiar with the matter said. She couldn't be reached for comment.
熟悉此事的人表示，英屬維爾京群島法院還批准了債權人申請清盤 Summer Fame Fame Ltd.，該公司是錢女士的家族信託所控制的實體，該公司持有 Luckin 股份。她無法獲得評論。
After the ruling and a similar court order last month in the Cayman Islands to wind up another of Mr. Lu's entities, KPMG, the court-appointed liquidator, owns about 18% of Luckin's Class A shares, according to people familiar with the matter and calculations based on Luckin's public filings.
根據熟悉此事和 Luckin 公開文件的計算的人，在上個月在開曼群島執行裁決和類似的法院命令後，盧先生的另一個實體清盤，KPMG（法院指定的清盤人）擁有約 18％ 的 Luckin A 類股份。
Mr. Lu and Ms. Qian founded Luckin in 2017 and set out to challenge Starbucks's dominance in China and get Chinese consumers hooked on premium coffee. By the end of 2019, Luckin had opened more than 4,500 outlets across the country and said it was China's biggest coffee chain by stores, even though its sales fell short of its Starbucks's.
呂先生和錢女士於 2017 年創立 Luckin，並著手挑戰星巴克在中國的主導地位，並吸引中國消費者迷上優質咖啡。截至 2019 年底，Luckin 在全國開設了超過 4,500 家分店，並表示這是中國最大的咖啡連鎖店，儘管其銷量不足於星巴克的銷售額。
The Wall Street Journal reported in May that Luckin inflated sales by booking numerous purchases of vouchers that could be exchanged for cups of coffee. Some of the companies that bought such vouchers in bulk, as well as a company that received payments from Luckin for raw materials, had ties to Mr. Lu, according to the Journal's reporting.
華爾街日報五月報導，Luckin 通過預訂可以為咖啡杯交換的憑證大量購買膨脹的銷售額.一些公司購買了這樣的券散裝, 以及收到來自 Luckin 原材料付款的公司, 有聯繫先生. 盧, 根據該雜誌的報告.
An internal investigation by Luckin concluded that Mr. Lu "knew or should have known" of the fabricated transactions, the Journal previously reported. Mr. Lu denied that in an earlier email to the Journal.
Luckin 的內部調查得出的結論是，先生. 盧「知道或應該知道」的偽造交易, 該雜誌此前報導.盧先生在較早發給日記的一封電子郵件中否認了這一點。
Write to Jing Yang at Jing.Yang@wsj.com
電郵地址：Jing.Yang@wsj.com 寫信給楊晶
(END) Dow Jones Newswires
(完) 道瓊斯通訊社
July 14, 2020 07:27 ET (11:27 GMT)
2020 年 7 月 14 日上午 07 時 27 日（格林威治標準時間 11:27）
Copyright (c) 2020 Dow Jones & Company, Inc.
版權所有 (c) 2020 道瓊斯公司
譯文內容由第三人軟體翻譯。