Cash-trapped LeEco is facing a new challenge as a court in Beijing ordered further asset freeze for Jia Yueting, LeEco's founder.

According to website "China Judgements Online" citing two documents released by the Beijing No. 4 Intermediate People's Court, assets of 250 million yuan (37.2 million U.S. dollars) including personal holdings of Jia Yueting and his brother Jia Yuemin, and assets of certain subsidiaries of LeEco have been frozen at the request of China Construction Bank.

According to public information, LeEco and China Construction Bank struck their cooperation in 2015. As of the first half year of 2016, LeEco have obtained a credit limit of 400 million yuan (59.5 million U.S. dollars), with 60 million (8.9 million U.S. dollars) left in available credit.

This is the second asset freeze for LeEco ordered by a court this year. In early July, Shanghai High People's Court ruled in favor of China Merchants Bank’s request to freeze 1.237 billion yuan (184.1 million U.S. dollars) in assets belonging to Jia Yueting, his wife and three LeEco affiliates.

Email: gaohan@nbd.com.cn