Lentuo International Inc (CE) (LASLY) News

Lentuo was declared bankrupt by a Court in China in July 2016 and they have been working on a reorganisation plan which has stalled as the company is refusing to cooperate and it is rumoured that Guo has been transferring assets out of the company...

http://money.163.com/16/1230/05/C9GS3Q5P0025814T.html#from=relevant

Seems as though nobody looks at this anymore. Simply Sickening that this is practically worthless at a fraction of a cent.

Is there any chance that this company could clear up matters and/or re-situate itself so that us shareholders get back a reasonable sum of our total investment? These Dirty Rotten Heartless Scoundrel Criminals and their Brethren need to be brought to justice.

If not, maybe one of these methods below would reduce odds of future investors being victimized...

http://www.historyrundown.com/10-most-cruel-torture-devices-of-all-time/

BTW Lentuo has about 1000 lease cars out with customers which it still actually owns but these are subject to claims and frozen by the banks. There are 5 court cases and 2 have been decided. In both cases there has been a ruling in favour of Lentuo to a value of over 6M USD on leasehold cars. Some or all of that would have to be paid to the banks, and the problem is getting their hands on the cars that are in the possession of customers. The 4S shops are still inactive I think. The maintenance branch is open.

Thanks. I agree, as normally the VIE structure makes it impossible to get at any underlying assets. Why do they care about keeping the company alive. BTW Guo has also been fighting but losing ongoing Chinese court cases against the banks about that parent company trust fund raiser where investors lost everything.

Thanks. I agree, as normally the VIE structure makes it impossible to get at any underlying assets. Why do they care about keeping the company alive. BTW Guo has also been fighting but losing ongoing Chinese court cases against the banks about that parent company trust fund raiser where investors lost everything.

I will post when the final order comes out, but dont count on much, after fees there should be a fraction of a penny left for the shareholders.
The silver lining is that Lentuo HAS a million to pay plus they spent a bunch on their lawyers. Why would they do that as Chinese citizens if the company was dead?

Thats not a lot of money. Who is eligible to receive a piece of that? Would shareholders be contacted automatically, or do we need to take action in order to make a claim? Thank you for staying on top of this for the forum.

Class Action has been settled for $1000000 subject to court approval.

The final class action settlement details should come out by 9/2/2016

what does that mean for the Lentuo LASLY stock?

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Hmm..quite a coincidence that someone started buying when lawsuit was settled. Company which raised 52 million in ipo and made profit almost every year since that (about 70 million during those years) might still be worth a lot taking account that lots of that money is invested in real estates. I think Guo could not buy any shares since he was charged, but now when the case is closed he could buy shares back cheap (5 cents per share and the whole company has only 1-2 million valuation). I cant see anyone else buying a company that has totally disappeared.

what is up here ?

Lentuo has reached a class action settlement.Details to follow soon.

Lentuo has reached a class action settlement.Details to follow soon.

Maybe not all, but Why are so many of these Chinese Companies so crooked?

"Lentuo International ("Lentuo") is the largest non-state-owned automobile retailer in Beijing, China as measured by new vehicle sales revenues in 2009, according to the China Automobile Dealers Association (CADA). Lentuo operates six franchise dealerships, ten automobile showrooms, one automobile repair shop and one car leasing company in the Beijing metropolitan area, the largest automobile market among all cities in China in terms of annual new passenger vehicle registrations. Three of the six dealerships are among the leading dealerships in China for their respective brands as measured by individual dealership new vehicle sales."


I lost everything. I could be singing the "somebody done somebody wrong song"... but I would much prefer to get my money that was stolen back. Is there any reasonable chance for that to happen?

any news here?

I don't think so. The websites for the 4S shops don't work any more and they are all being individually sued by Banks in China. Guo is still fighting the cases though.

Not that I have an substantial shares left, but curious if anyone has any updates on LAS relating to the court date or other info on the operational aspects of the company. Last time I researched this, LAS was not really operational and close to bankruptcy.

No links allowed. Open a Pacer account and search for the case docket.

Hey 300Gs, where did you get this information from? Can you post a link? thanks.

Interesting..thanks for the update.

Class Action dismissed with a last chance to amend.Judge said one more granted motion to dismiss and he will not allow refiling.

But it referred to LAS revenue paying of the debt, not any earnings that Guo got from the company. He was treating the LAS revenue as a source of paying of his debts as though they were LAS debts, and as if he was free to treat LAS revenue as his own.

I've seen similar arrangements in the context of money laundering, LAS being the "beneficial" as opposed to "legal" owner of those debts.

Why were we paying off someone else's debt? If I have a credit card bill and someone else is paying it off for me then, even if technically it is my debt, in practice it is their debt as it affects their net income.

LAS having to pay back those loans from its revenue made a bad cash flow situation even worse and and contributed to the inability to operate as a business. So of course shareholders should have known about it. Note how in the court cases about the debts in China, LAS is a party, so we are being treated as if they were our debts.

Guys, while we are waiting to here from Lentuo, you might want to check out $SUNE$. Just share good news.

Not really. Imagine you are buying a house and the bank asks for your job information, bank accounts, etc. They want to know your likelihood of repayment. Guo didn't pledge LAS revenue as collateral, just listed it as source of repayment.
In the latest court motion LAS lawyers are claiming that plaintiffs have not and will not produce a document that LAS revenues were pledged and everything to date has been bogus and pulled off short seller websites.

Bit of a dodgy claim to say have nothing to do with Lentuo when LAS was the only source of funds to pay of the loans.

Guo still has all his shares and didn't sell a single one during the debucle.

They are still actively fighting class action, still claiming loans have nothing to do with Lentuo and however they seem to admit to cash flow issues I don't believe company is dead. Why fight, just go through bancruptcy and US legal system has no reach in China.

Any updates here?

Hearing is set for December 14th. Just like I said. You posted a PROPOSED order and nothing more.

Come on! You can see for yourself. Easiest way to pay few bucks to pacermonitor (link below). Even I dont believe this is the end of this case because Lentuo said that its all just hearsay but definately there is something wrong with their business (all of the chinese trials about their debts). But just see those cases below before callling me a liar!

https://www.pacermonitor.com/public/case/7767955/Felipe_Garcia_v_Hetong_Guo_et_al

The hearing on a motion to dismiss is set for December 14th. I don't believe the previous post is accurate and ruling has not been made.

I wouldn't be surprised if the lawyers didn't try very hard or even consented to this, given the state of the company, why would they want to expend much effort on the case?

Interesting....

Interesting....

IT IS HEREBY ORDERED that the Motion to Dismiss the Amended
Class Action Complaint is GRANTED, and the Amended Class Action Complaint is
hereby DISMISSED as against Lentuo International Inc. with prejudice and without
leave for plaintiffs to further amend.

Do you havet the link to the article? Unless I missed it...thanks.

yeah sure, let us know what he finds out. :) thanks

I have someone in china who can translate or research further if you want.

alright, thanks icroucher.

At this stage I'm withdrawing that comment as I'm not sure that the translation was correct and I don't speak chinese. Some updates on blogs seemed to indicate some funding was or is being negotiated, but I'm not sure now. I let my wishful thinking get away from me but will monitor the chinese websites and let you know if anything more comprehensible is forthcoming.

Can you elaborate?

Some updates and activities on the lentuo weibo blogs. But just hearsay at this stage.

speak. what's going on, with links please, no hearsay.

Watch this space - there's some developments from China that lead me believe that we are out of the woods - don't expect anything to happen quickly, but looking extremely positive.

I checked with SEC tech staff and this filing was deleted by a post-acceptance deletion process on 9/16.

Great good to hear he is not still MIA