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Jia Yueting's debt handling group posted on Weibo that Jia Yueting's creditors' meeting was officially held at FF's US headquarters. 35 creditors from 20 creditor institutions, as well as lawyers, attended the debt meeting to discuss with Jia Yueting the personal bankruptcy restructuring and the future development of FF.

Jia Yueting said that the success of debt restructuring determines the life and death of FF, but also determines the interests of creditors, and hopes to vote on the adjusted restructuring plan in mid-late December to push forward the passage of the plan as soon as possible.

At the meeting, Jia Yueting apologized to all creditors and said he was confident of reaching a debt restructuring plan with creditors to thoroughly solve the debt problem.

It is worth noting that the creditors' meeting held by Jia Yueting is not a meeting in the legal sense, in fact, it is only a communication, and the real creditors' meeting will be held on December 6.

However, a small number of creditors did not receive the invitation to the meeting, and the debt group said that some creditors tried to freeze Jia Yueting's FF stake and hinder the process of bankruptcy restructuring, and the debt group did not invite companies with inconsistent interests.

According to data, three creditor companies filed a lawsuit with the US court to freeze Jia Yueting's assets. they are Shanghai lazy property Asset Management Co., Ltd., Shanghai Qicheng Yueming Investment Partnership and Jinan Ruisele Enterprise Management Consulting Partnership.

Lazy wealth is included in companies that are not invited. "Jia Yueting asked creditors to bet on the future success of a company that barely exists, and from a business point of view, Jia Yueting can't even deal with his own debt," said the lawyer. In addition, Jia Yueting is also suspected of concealing personal property through other means, such as acting on behalf of others, and will exchange information with other creditors through other channels. "

Jia Yueting's debt processing team responded to questions about the concealment of lazy wealth's assets, saying that Jia Yueting had announced all his assets, including those frozen in the country and his stake in FF, and that his current residence was rented.

According to first Financial Statistics, Jia Yueting holds privately traded shares and rights worth US $1.41 billion, of which the highest value is West Coast LLC, owned by Smart King, the parent company of FF Faraday, with a value of US $860 million, followed by another subsidiary, Pacific Technology Holdings, with a value of US $320 million, and the third is domestic Leeco, which is currently suspended from listing. But Jia Yueting still owns 23.08% of the shares, worth about $220 million.

Jia Yueting's unfrozen deposits are only $67000, while those frozen in China are about 300000 yuan. The total amount is 778000 RMB. In addition, Jia Yueting bought $6.5 million worth of funds, bonds and stocks in Irvine, California. Jia Yueting owns three properties in China, two in Beijing and one in Cixi, Zhejiang. The total value of the three properties is more than 33.57 million, but two are currently frozen. Jia Yueting declared to the US court a total of US $1.41 billion in personal assets, most of which are financial assets, as well as real estate and some personal belongings.

With regard to the debt conference, some lawyers said that Jia Yueting has a good chance of bankruptcy reorganization, because FF is only one of the assets held by Jia Yueting, and FF has no say at all. Whether it is filing for bankruptcy in the United States or China, FF is passively waiting for liquidation.

At present, Jia Yueting's total debt is $3.2 billion and his total personal assets are $1.41 billion. FF Global CEO Bi Fukang said that the mass production plan of FF 91 may be postponed to 2021, and FF needs at least $850 million in financing.

FF is closely related to bankruptcy reorganization, and only Jia Yueting can get bankruptcy exemption after the completion of the reorganization plan. if creditors refuse FF bankruptcy reorganization, then FF will have to carry out bankruptcy liquidation. once it enters bankruptcy liquidation, Jia Yueting's equity will be auctioned directly, the funds will be repaid to creditors in order of priority, and FF will also enter a period of life and death.

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