9F(US:JFU) Cai Fu Zai Xian·2026-02-27 10:46Core Viewpoint - The Hubei Provincial High Court ruled that there is no legal relationship of private lending between the lender and the platform Jiufu Puhui, and thus the platform is not liable for repayment [1][5]. Group 1: Legal Relationship - The court determined that the relationship between the lender and Jiufu Puhui is a brokerage service contract rather than a private lending relationship [3][4]. - The agreement signed between the lender and Jiufu Puhui clearly states that Jiufu Puhui acts solely as an information intermediary and is not a borrower or guarantor [4][5]. Group 2: Evidence and Claims - The lender's claims regarding the funds not entering a bank custody account were found to lack factual basis and were not accepted by the court [4]. - Jiufu Puhui argued that the repayment guarantee measures were provided by third-party institutions, not by the platform itself, which aligns with regulatory definitions of information intermediaries [2][5]. Group 3: Implications for Lenders - In the context of P2P lending, the determination of whether the platform is a debtor directly affects the lender's ability to recover funds [6]. - Lenders facing repayment difficulties should clarify the true debtor-creditor relationship and pursue claims against the actual borrower, rather than the platform [6].