· This is Wang Hao's 1525th original article on Fortune
· The full text is 2000 words long and takes about 5 minutes to read
Not long ago, the retrial application of Jinyan, the widow of the founder of Xiaoma Benten, was finally rejected. Several years after the death of the company's founder, the warning is still clear: a truly good company should not only specialize in business.
1
The application for retrial was rejected
On July 31, Jinyan, the widow of Li Ming, the founder of Pony Benten, said she had finally received a civil ruling from the Supreme Court.
The above content is that for his own application for retrial of the husband and wife's joint debt case, the application is rejected.
That is to say, the results of the previous first-instance and second-instance judgments, allowing Jinyan to bear the joint and several liquidation liability of the pony galloping within 200 million, is already a result that cannot be changed.
An excellent film and television group, after the sudden death of its founder, finally fell into the current situation, which cannot but be lamented.
2
Once brilliant
Behind the pony gallop, an ordinary name, is countless familiar film and television works.
"The Sky of History", "Carry Love to the End", "The Tale of Wulin", "No Man's Land", "Sword Rain", "Three Kingdoms", "My Brother Is Called Shunliu", "Sweet Honey" and so on.
Those years were the last glory before the arrival of the traffic era.
At that time, the group not only invested in the film and television drama quality is very good, but also gathered many well-known artists and directors, and it is also very fierce in terms of financing.
Before going public in 2011, the Group made its last financing, with a total financing of 750 million yuan, becoming the largest financing transaction in China's film and television industry.
3
Financing and VAM agreements
This financing is not so easy to get.
Instead, it comes with a condition, which is:
If Pony Benten fails to achieve a qualified listing before December 31, 2013, CCB Culture has the right to require Pony Benten, the actual controller or any party of Li Ming, Li Li and Li Ping to acquire the equity of the Company held by CCB Culture at any time after December 31, 2013, provided that it meets the requirements of the laws and regulations at that time.
This is the legendary "VAM Agreement".
It is said that when this agreement was reached, Jin Yan made a lot of efforts to blow pillow wind around Li Ming.
Next, there is something that shocked and regretted the entire film and television circle: Li Ming, who was only 47 years old, died of a sudden myocardial infarction late at night on January 2, 2014.
The VAM agreement is therefore problematic.
As we all know, Li Ming is the soul of Pony Benteng, and the reason why many directors, screenwriters, and stars work under the banner of Pony Benten is essentially because they are coming for Li Ming.
Now as soon as the main backbone died, the group began to mess up.
4
Dilemmas and debt
Loss of key company employees.
The top floor is caught up in a struggle for control.
Investors lost confidence in the prospects of Pony Gallop, so they proposed to buy back from Pony Benten's side.
Jin Yan had already defeated her opponent at that time and temporarily became the actual controller of the company, as evidenced by a court judgment, proving that Pony Gallop was the joint property of her and her husband.
To a large extent, it was precisely because of this judgment that Jin Yan later fell into a very serious predicament.
She wanted to inherit the multi-billion-dollar group, but she was saddled with heavy debts and failed to win two lawsuits.
And the pony galloping after many changes is far less valuable than the original valuation.
What is more serious is that just a few months later, she was squeezed out by Li Ming's sister Li Ping and sister Li Li, losing the identity of the actual controller, but still has another identity: the actual controller of the pony gallop.
Coupled with the court's determination of the joint property of the husband and wife, in the end, it led to the current situation, and Jinyan took on a debt of 200 million.
5
Revelation to others
Jin Yan's story has come to an end for the time being, and even if it continues to develop, the story that appears will most likely have nothing to do with Li Ming.
But the cases left by the couple and the enlightenment to other entrepreneurs are far-reaching.
The first is the risk of the VAM agreement.
There are many gambles in this world that have won, but there are also quite a few people who have failed to gamble, such as Zhang Lan in the pretty Jiangnan, such as "Star Master" Zhou Xingchi.
And Li Ming.
When signing a VAM agreement, in addition to trying to reach an agreement on the goals, you should also consider "in case of failure, where is the way back".
As for whether to try to fight for certain terms in the VAM agreement or to make arrangements in advance in some aspects of the company, it is a matter of opinion.
Second, a good company should not only have excellent products.
There should also be an excellent management system and structural design.
The advantage of this is, on the one hand, to let the company's excellence be carried forward as much as possible, on the other hand, when the company's important senior management has an unexpected situation, the company can still continue to operate, and in the face of infighting and other issues can also minimize the impact.
Just like in Chinese history, after the death of the five able people of the Spring and Autumn Five Hegemons, the hegemony immediately became empty, but even if the monarch of the Warring States suddenly died, it did not hinder the normal and powerful operation of the entire country.
In this regard, it is up to professionals to design.
Finally, there is the question of "the validity of the VAM agreement on the spouse" that arises in the case.
On the one hand, this problem extends, that is, about the entrepreneur's sudden accident will not affect the spouse problem, the so-called accident is that no one can predict in advance, how to work in the mall at the same time, to add a guarantee to the family, is the need for professional arrangements for the company.
On the other hand, this problem also has the reverse situation, that is, the entrepreneur's company is about to go public, and suddenly encounters the problem of marriage change, which seriously affects the listing.
All of this is inseparable from the sophisticated architecture.
6
epilogue
When Li Ming, who is obsessed with morality and is very emotional, walks on the table of the VAM agreement, he is almost doomed to cause problems due to too emotional matters.
It's just where the problem will explode.
What many generations or second generations need is no longer a high-yield but high-risk gambling agreement, but a careful polishing of various rules and regulations related to the company, and the construction of the system.
For some women who marry into the rich or marry business leaders, there are also problems to pay attention to, that is, they need to be vigilant, pay attention not to be affected by their spouse's debts, and protect their personal property.
<h1 toutiao-origin="h1" > Wang Hao said that the fortune video number opened and clicked to watch, sneak peek! Welcome to like, retweet and follow Oh ~▼</h1>
<h2 toutiao-origin="h2">
</h2>
Disclaimer: The copyright of the article belongs to the platform, welcome to forward to the circle of friends, please contact the background for reprinting.
Pay attention to Wang Hao said wealth
Share the dots of the world of wealth