Dangdang CEO Li Guoqing and Yu Yu, a married couple, tear into each other: homosexuality, STDs, domestic violence? How will the 7 billion yuan family assets be divided?

On the evening of October 23, after Dangdang founder Li Guoqing repeatedly self-disclosed online that he was "driven out of Dangdang by his wife Yu Yu" and "left with nothing," the incident reached a new climax. Yu Yu posted three comments under Li Guoqing's WeChat Moments, "attacking her ex-husband," with content that was shocking.

Yu Yu's comment began with a direct attack: "Li Guoqing, I want to scratch your face!"

The following content was even more jaw-dropping:

　　1. Denying that Li Guoqing left with nothing, claiming that hetook 130 million yuan in cash from home;

2. Li Guoqing has aGay lover Ma Mingze("Bangjia" is a Beijing dialect term for mistress);

3. Li GuoqingSyphilis medical record;In addition, Yu Yu also complained about many aspects of Li Guoqing's family life and his private life.

(↑Screenshot of part of the comment content)

[1] The following is the full text of Yu Yu's comments ↓

[2] Subsequently, Li Guoqing responded in a post on Weibo, warning in the text[3] that Yu Yu should not attempt to transfer joint marital property.

[4] How exactly will the 7 billion yuan in family assets be divided?

　[5] Generally speaking, the division of marital property should follow these regulations:

[6] 1. Mutual agreement between both parties

According to Article 39, Paragraph 1 of the Marriage Law, "Upon divorce, the joint property of the husband and wife shall be disposed of by mutual agreement between the parties," meaning that during divorce, the division of property must be conducted under the principle of consensus between both parties and cannot be decided unilaterally.

　　2. Equality between men and women

According to the principle of "equality between men and women" as stipulated in Article 2, Paragraph 1 of the Marriage Law, women shall not be discriminated against, and it shall not be assumed that women should receive a smaller share because they earn less. When dividing joint property upon divorce, women's rights shall be respected and protected.

　　3. Consideration for the children and the wife's rights

According to Article 39, Paragraph 2 of the Marriage Law, if no agreement can be reached, the People's Court shall make a judgment based on the specific circumstances of the property, following the principle of considering the interests of the children and the wife.

　　4. Principle of compensation

According to Article 40 of the Marriage Law, "If one party has performed more obligations in raising children, caring for the elderly, or assisting the other party in work, that party has the right to request compensation from the other party upon divorce, and the other party shall provide such compensation." This means that when dividing marital property according to law, the party who has performed more obligations may request compensation from the other party. The compensation shall be paid from the divided property, and if the divided property is insufficient, it shall be supplemented from the party's personal property.

　　5. The principle of protecting the innocent party

Article 46 of the Marriage Law stipulates that in any of the following circumstances leading to divorce, the innocent party has the right to claim damages:

(1) Bigamy;

(2) Cohabitation of a spouse with another person;

(3) Committing domestic violence;

(4) Mistreating or abandoning family members.

Interpretation of the Marriage Law (I), Article 28: The "damages" stipulated in Article 46 of the Marriage Law include both material damages and moral damages. Where moral damages are involved, the relevant provisions of the Supreme People's Court's Interpretation on Issues Concerning the Determination of Liability for Moral Damages in Civil Torts shall apply.

Interpretation of the Marriage Law (I), Article 29: The subject liable for damages under Article 46 of the Marriage Law is the spouse who is not at fault among the parties to the divorce proceedings.

According to the above provisions, China's Marriage Law establishes a divorce damages system. If divorce occurs due to one party's bigamy or cohabitation with another person, the innocent party may claim divorce damages, including moral damages.

What to do if one party transfers property during divorce?

　　1. The law protects the weaker party, and the party who transfers property should receive less or no share of the property.

The Supreme People's Court's "Several Specific Opinions on Issues Concerning the Division of Property in Divorce Cases Heard by People's Courts" stipulates that if one party unlawfully conceals, transfers, or refuses to hand over marital property, or unlawfully sells or damages it, that party shall receive a smaller share or no share when the property is divided. In specific handling, the concealed, transferred, sold, or damaged property shall be counted as the share of the party who concealed, transferred, sold, or damaged it, while the other party's due share shall be offset by other marital property. If the offset is insufficient, the difference shall be compensated by the party who concealed, transferred, sold, or damaged the property. For a party who unlawfully conceals, transfers, sells, or damages marital property, the people's court may handle the matter in accordance with Article 102 of the Civil Procedure Law of the People's Republic of China.

　　How to deal with one party transferring property?

To prevent one party from disposing of property without authorization, it is best not to entrust financial control to a single person; if one party disposes of valuable marital property without authorization, the other party should promptly stop it, especially paying attention to transfers under the pretext of supporting elders.

Transferring cash is difficult to prove; it is recommended to set up joint accounts for large deposits to prevent unauthorized transfers; if it is discovered that one party may be transferring property, retain as much evidence as possible, such as bank account and transaction details. If a lawsuit has not yet been filed or divorce proceedings have already begun, and one party is found to be transferring property, a property preservation application can be made to the court. If evidence of pre-divorce property transfer is discovered after divorce, a request can be made to the court for a new division of marital property. Given the complexity of property transfer situations, it is advisable to hire a professional lawyer to investigate and gather evidence to protect legal rights.

How to handle company shares involved in property division?

For a situation during the marriage where one party invests marital property in a limited liability company in their own name, and the other party is not a shareholder of the company, upon divorce, according to current legal provisions, it shall be handled as follows:

1. If both parties agree to transfer all or part of the capital contribution to the spouse of the shareholder, and more than half of the other shareholders consent while the remaining explicitly waive their preemptive rights, the spouse may become a shareholder of the company.

2. If both parties agree on the transfer amount and price, but more than half of the shareholders object to the transfer yet are willing to purchase the capital contribution at the same price, the people's court may divide the proceeds from the transfer. If more than half of the shareholders object and are unwilling to purchase at the same price, they are deemed to have consented, and the spouse may become a shareholder.