A Beijing court ordered Jin Yan, the widow of Chinese media tycoon Li Ming, to pay $31.12 million to an investor who lent 450 million yuan to her late husbands Beijing Galloping Horse Film & TV Productions, the first Chinese company to invest in Hollywood. The new interpretation of the Marriage Law may free Jin from debt.
Chinas highest court has issued a new interpretation of the countrys marriage law to protect a spouse from hidden debt accumulated by a partner. Under the new interpretation, husbands or wives must repay loans only if they signed paperwork or gave formal consent. Photo: Visual China
Chinas top court has released a new interpretation to the countrys Marriage Law to prevent a spouse from being forced to pay any hidden debts…
Read the full article at: http://chinafilminsider.com/chinas-new-ruling-marriage-law-may-save-late-media-tycoons-wife-debt/