Court orders spending limit on Luckin founder over payment fail

Luckin Coffee founder Lu Zhengyao was again put on a name list of limited spending for being tied up with a court ruling enforcement involving more than 935 million yuan ($144 million).

His name appeared Thursday on a national official website to disclose to the public individuals involved in such court ruling enforcement cases.

Seen from the website, the enforcement, where an asset management company in Shanghai claimed the arrearage, was announced by the Beijing No 1 Intermediate People's Court in March.

Lu was also founder of Ucar, a car-renting service company.

It was the second time Lu had received an order of limited spending this year. He received the other in January after he was involved in a court ruling enforcement involving 1.3 billion yuan.

Limited spending is a judicial way to manage individuals who fail to make payments announced in a court verdict within the due time.

Such individuals are banned from purchasing flight tickets, high-speed train tickets, going on vacations, sending their children to private schools for education, and buying real estate and vehicles, among other prohibitions.