Embattled LeEco Hit by Latest Lawsuit Claiming Unpaid Bills

(Beijing) — Chaos continues at beleaguered LeEco, with another creditor suing the cash-strapped tech giant for what it says are unpaid advertising bills totaling 60 million yuan.

Subsidiaries of a Shenzhen-listed online marketing company are seeking arbitration to collect claimed overdue payments from four LeEco affiliates, according to a statement on the bourse on Tuesday.

Jinyuan Technology has filed the suit against the sports arm, the public-video streaming unit, the e-commerce firm and the holding company under the financially strained technology and entertainment company, which had been proclaiming huge ambitions last year before acknowledging a capital crunch in November.

A local court had accepted three of these cases, Jinyuan Technology said in the disclosure.

LeEco’s financials have been heavily drained due to overspending in such areas as smartphone manufacturing.

Contact reporter April Ma (fangjingma@caixin.com)