What does Laolai mean?

Lao Lai is a debtor who maliciously defaults on the debt owed to his creditor, and on the other hand delays the transfer of his property. Once the court makes a judgment, the court will impose relevant high consumption restrictions on him. So today, let’s take a look at what Laolai refers to with the editor of Legal Express? What are the restrictions on Lao Lai and what are the answers to related questions!

1. What does Laolai mean?

In the legal industry, "Lao Lai" refers to "the person subject to execution for dishonesty", so the "person subject to execution" cannot be completely equated with the "person subject to execution for breach of trust". In other words, if the person subject to execution has committed certain breaches of trust, he will be listed as a "distrustful person subject to execution" by the court, which is what everyone calls "Lao Lai".

What does Lao Lai mean? What are the restrictions on Lao Lai?

2. What are the restrictions on Lao Lai?

1. Restrictions on high consumption orders

Once the creditor applies to the court for an order restricting high consumption, the debtor shall not engage in the following behaviors, otherwise he will be subject to legal sanctions:

(1) When taking transportation, choose airplanes, trains, soft sleepers, Second-class or above cabins on ships;

(2) High consumption in star-rated hotels, hotels, nightclubs, golf courses and other places;

(3) Purchase of real estate or new construction or expansion , high-end decorated houses;

(4) Leasing high-end office buildings, hotels, apartments and other places for office work;

(5) Purchasing non-essential vehicles for business;

( 6) Traveling and vacationing;

(7) Children attending high-fee private schools;

(8) Paying high premiums to purchase insurance financial products;

( 9) Taking all seats on G-EMU trains, first-class or higher seats on other EMU trains, and other consumption behaviors that are not necessary for life and work.

2. Exit restrictions

For foreigners and Chinese citizens who have unresolved civil and commercial cases in the mainland, the People's Court may decide on measures to restrict exits.

3. Online shopping is restricted

The Supreme People's Court and ** Credit signed a memorandum of cooperation on credit punishment for dishonest persons subject to enforcement. **Credit cooperates with Taobao, Tmall, China Car Rental, Qufenqi and other application platforms to comprehensively restrict those who are subject to enforcement for dishonesty in consumer finance, Ant Micro Loan, credit card, P2P, hotel, house rental, car rental and other scenarios through the Internet and other channels. .

4. Not allowed to serve as boss, director, supervisor or senior executive

Starting from December 2015, anyone who has the ability to repay but refuses to repay all or part of due debts will be punished. Lao Lai who are included in the list of dishonest persons subject to execution by the people's courts at all levels across the country will be subject to credit penalties and are not allowed to serve as the legal representative, director, supervisor or senior manager of any company nationwide.

5. Restrictions on bidding activities of bidders, bidding agencies, bid evaluation experts and other bidding practitioners

September 22, 2016 Supreme People's Court, National Development and Reform Commission, etc. 9 departments jointly issued the "Notice on the Implementation of Joint Punishments on Dishonest Persons Subject to Enforcement in Bidding and Bidding Activities", restricting the bidding activities, bidding agency activities, bid evaluation activities, and bidding activities of the dishonest persons subject to enforcement.