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  The court upheld Jia Yueting's bankruptcy reorganization and moved his bankruptcy reorganization case to California.

  On December 19th, Jia Yueting's debt handling team said on Weibo that the US court supported Jia Yueting's personal bankruptcy reorganization to continue in California, and the motion to revoke the reorganization was rejected. With regard to Jia Yueting's claim that "bankruptcy reorganization is supported by the Delaware court," industry insiders said that this is only a simple procedural decision, and the Delaware court believes that it does not have jurisdiction over bankruptcy reorganization. Therefore, the transfer of the case to the California court, that is all, cannot be regarded as the Delaware court's support for Jia Yueting's bankruptcy reorganization. And for Jia Yueting debt processing team said that "lazy wealth cancellation restructuring motion was rejected."

  Jia Yueting 2019-12-19
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  Jia Yueting's bankruptcy reorganization was forced to be postponed, and only 20% of the creditors agreed to the bankruptcy plan.

  On October 11, Jia Yueting submitted a monthly document on personal bankruptcy reorganization to the Delaware bankruptcy court. According to Jia Yueting's bankruptcy plan, creditors are required to vote on November 8, 2019 whether to agree to the bankruptcy plan. If 90% of the creditors agree, the bankruptcy reorganization will be carried out in accordance with the current plan. Recently, according to documents released by the Delaware bankruptcy court, only 23% of the creditors agree with Jia Yueting's bankruptcy reorganization plan, so Jia Yueting needs to withdraw the bankruptcy plan currently submitted and postpone the voting period. Jia Yueting can continue to modify the bankruptcy plan, and the court will hold a hearing on December 18.

  Jia Yueting goes bankrupt 2019-11-10
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  Jia Yueting intends to apply for personal bankruptcy reorganization or will no longer hold Faraday's future equity.

  Recently, some Chinese cities have launched policies to pilot a personal bankruptcy system, while media reported that Jia Yueting recently submitted relevant documents to the US court and volunteered to file for personal bankruptcy reorganization. After applying for personal bankruptcy reorganization, Jia Yueting will transfer all his assets to creditors through a creditor trust, which is controlled and managed by the creditor committee and the trust trustee. It also means that creditors will get all of Jia Yueting's assets and their income rights in advance, and Jia Yueting will no longer hold any stake in Faraday Future Faraday Future, an electric carmaker. At present, the future side of Faraday.

  Jia Yueting intends to apply for personal bankruptcy reorganization 2019-10-11
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  Pang Qinghua, founder of "King of 4S Store", sued the reorganization party.

  On September 5, 2019, the giant group, once known as the "largest car dealer in China", issued two announcements, pointing out that the court had ruled to accept the reorganization application of the giant group and would implement the delisting risk warning. Subsequently, the huge group was restructured, and Pang Qinghua, the founder and former controlling shareholder of the company, went to San.

  Group huge Qinghua Cooperation restructuring Company assets National Transport capacity people actual founder Automobile Stock payment 2022-09-20
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  Eventually go bankrupt! FF confirmed that Jia Yueting applied for bankruptcy reorganization in order to thoroughly solve the debt problem.

  According to relevant media reports on October 11, Jia Yueting, the future founder of Faraday, submitted the relevant documents on personal bankruptcy reorganization to the US court. According to the document, Jia Yueting will transfer all assets to creditors through a previous trust, which is controlled and managed by the creditors' committee and the trust trustee. Jia Yueting submitted bankruptcy restructuring to the United States, Jia Yueting himself and his domestic debt group did not explain the "bankruptcy restructuring." Faraday officially announced today that in order to thoroughly solve the personal domestic debt problem, Faraday Future founder and CPUO...

  Jia Yueting's personal bankruptcy and reorganization 2019-10-14
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  It was exposed that Jia Yueting applied for bankruptcy reorganization, and all assets were transferred to creditors.

  Jia Yueting submitted a document about filing for personal bankruptcy reorganization to the court in the United States, thepaper.cn said, citing people familiar with the matter. After applying for personal bankruptcy reorganization, Jia Yueting will transfer all assets to creditors through a creditor trust, which will be controlled and managed by the creditor committee and the trust trustee. This means that Jia Yueting will no longer hold Faraday's future shares. In response to Jia Yueting's submission of personal bankruptcy restructuring, Faraday, founded by Jia Yueting, said in the future that Jia Yueting's personal debt was handled by domestic debt, and FF did not have much news. Leeco also said that it is not clear about the specific progress.

  Jia Yueting bankruptcy reorganization 2019-10-11
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  Pang Qinghua transferred the help of the business giant, and the huge reorganization has a bright future.

  * ST has issued an announcement that it has identified the intended investor. The announcement shows that after the reorganization and acceptance, the manager (the liquidation team of Giant Automobile Trade Group Co., Ltd.) combined with the actual situation of the huge group, searched and approached by many parties. Shenzhen Shenshang Holdings Group Co., Ltd. (hereinafter referred to as "Shenzhen Shang Holdings"), Shenzhen Yuanwei Asset Management Co., Ltd. (hereinafter referred to as "Yuanwei assets") and Shenzhen National Transportation Technology Group Co., Ltd. (hereinafter referred to as "National Transport capacity"). The consortium, which will be the intended investor of the huge group, will participate in this restructuring. At the same time, the actual control of the huge group.

  Huge 2019-09-16
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  Brilliance lost control of BMW, brilliance's profit in China fell by 40%

  On March 29, brilliance China Automotive Holdings Limited (hereinafter referred to as "brilliance China") released its annual financial report for the year ended December 31, 2022. According to the financial report, brilliance China's comprehensive income in 2022 was 1.131 billion yuan, down 47.2% from the same period last year, and the profit attributable to shareholders was 7.147 billion yuan.

  Brilliance Automobile BMW Group Company brilliance Group China Limited Co. Ltd. Enterprise Holdings claims Scheme Investment creditors 2023-03-31
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  The net exposed: the huge group of car dealers has submitted an application for bankruptcy reorganization.

  The net exposed: the car dealer group, a huge group, has submitted an application for "bankruptcy reorganization" on May 17 this year and is currently waiting for court approval. Subsequently, Pang Qinghua (chairman of the giant group) also confirmed this in an interview with the media, but at the same time, Pang Qinghua also stressed that the 'bankruptcy reorganization' was initiated by Jidongfeng Company, a creditor of the giant group (Beijing Jidongfeng Automobile sales and Service Co., Ltd.) and was not applied by the giant group on its own initiative. On May 14th the giant group issued an announcement called "indicative announcement on the application for restructuring by creditors". The announcement shows that due to the huge group and 20.

  Bankrupt huge 2019-06-11
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  After Lifan, another car company will be "revived", and the brand-new model will be exposed.

  After Lifan was revived by Geely, BAIC Yinxiang, which is mired in the debt crisis, is also expected to "revive". Recently, the second creditors' meeting of BAIC Yinxiang Automobile Co., Ltd. and Chongqing BAIC Magic Speed Automobile sales Co., Ltd. was held in the national enterprise bankruptcy reorganization case information network, and finally all the voting groups passed the draft reorganization plan by a large vote. This means that BAIC Yinxiang, which is mired in the debt crisis, is expected to usher in new development opportunities. It is revealed that after the restructuring of BAIC Yinxiang, the four shareholders contribute in the following ways: special fund with RMB 1.2 billion yuan; Yinxiang Group with RMB 487 million yuan; and Hechuan Transportation Company.

  BAIC Yinxiang 2021-02-05
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  After bankruptcy reorganization, brilliance Group was filed for investigation by the Securities Regulatory Commission.

  After brilliance Group officially went bankrupt and reorganized, the Securities Regulatory Commission also decided to file a case for investigation.

  Brilliance Group investigated by Securities Regulatory Commission 2020-11-21
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  Being filed for bankruptcy and restructuring, Lifan is facing a serious crisis.

  ​ is now the domestic automobile market accelerating changes in the market environment, so that many marginal car companies feel difficult. A few days ago, Lifan shares issued a notice that the company received a "notice" served by the court. Jiali, the creditor, applied to the court to restructure the company on the grounds that the company was unable to repay its due debts and obviously lacked solvency, but still had the value of restructuring.

  Lifan shares 2020-06-30
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  Facing the risk of bankruptcy, 10 subsidiaries of Lifan were applied for judicial reorganization by creditors.

  With continuous losses, Lifan shares are mired in a debt crisis. On July 10, Lifan shares announced that 10 wholly-owned subsidiaries were applied to the court for judicial restructuring by creditors because they were unable to pay off their maturing debts, and the company would risk being declared bankrupt due to the failure of the restructuring. In a notice on creditors applying to the court for judicial restructuring of the company's wholly-owned subsidiaries, Lifan shares revealed that 10 of the company's subsidiaries had been applied for judicial restructuring by creditors because they were unable to pay off their maturing debts. The companies that have been applied to the court for judicial reorganization by creditors include Lifan passenger cars, Lifan automobile sales, Lifan import and export company, Lifan motorcycle hair.

  Lifan automobile 2020-07-11
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  The court ruled to accept bankruptcy reorganization, and two autonomous car companies had an accident.

  According to the latest announcement, the controlling shareholders of the two companies were ruled by the court to go bankrupt and reorganized because they were insolvent. On the evening of September 1, Zhongtai Motor issued a notice that Tieniu Group Co., Ltd., the company's controlling shareholder, recently received a "civil order" issued by the people's Court of Yongkang City, Zhejiang Province. the court has accepted Tieniu Group's application for reorganization. The announcement shows that because Tieniu Group is no longer able to pay off its maturing debts, and the amount of book assets is less than the amount of liabilities, it should be determined that assets are not sufficient to pay off all debts, but Tieniu Group's assets are diversified and have core value. Through the pre-restructuring stage.

  Zhongtai Automobile Lifan Automobile 2020-09-02
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  Lifan shares: the court ruled to accept judicial reorganization, and the stock was delisted as a risk warning.

  Lifan shares said in an announcement that the court had ruled to accept the restructuring and that the company was at risk of being declared bankrupt due to the failure of the restructuring. At the same time, the company's stock was delisted risk warning, the stock abbreviation was changed to "* ST Lifan".

  Lifan Lifan car 2020-08-23
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  The reorganization plan of the huge group has been finalized, and Pang Qinghua and other related natural persons will "withdraw from the group".

  After three months, the restructuring plan of the huge group has finally been finalized! On December 11, Giant Group announced that the Intermediate people's Court of Tangshan City, Hebei Province approved the "reorganization Plan of Giant Automobile Trade Group Co., Ltd." and terminated the reorganization process of Giant Automobile Trade Group Co., Ltd., and officially entered the stage of reorganization implementation. According to a 38-page restructuring plan, the total book assets of the giant group are 30.2 billion yuan. According to the market value method, the total evaluation value is 9.766 billion yuan. According to the liquidation value method, the total evaluation value is 5.017 billion yuan. Have applied.

  A large group 2019-12-12
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  Jia Yueting filed for bankruptcy reorganization, official statement: FF as soon as possible to achieve equity financing and IPO targets

  The news that Jia Yueting, the founder of FF, voluntarily applied for personal bankruptcy reorganization was confirmed that according to the plan, all FF shares and related income rights held by Jia Yueting were formally transferred to the creditor trust, which will be controlled and managed by the creditor committee and the trust trustee. In addition, the debt handling team told the media that so far, Jia Yueting has repaid more than 3 billion US dollars in debt, and the total outstanding debt is about 3.6 billion US dollars. If you subtract the secured debt that has been frozen for disposal of domestic assets and convertible shares, Jia Yueting's remaining net debt is about 2 billion US dollars. FaradayFuture released on October 14 th.

  Jia Yueting goes bankrupt 2019-10-15
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  Jia Yueting agreed with the debt committee that creditors have the right to dispose of domestic assets.

  On February 29, Jia Yueting's debt handling team issued a statement saying that Jia Yueting had formally submitted a list of core terms of bankruptcy reorganization to the Central District Court of California, which was jointly signed by Jia Yueting and the creditors Committee after several rounds of negotiation and agreement. Jia Yueting plans to submit a new version of the disclosure statement based on the list of core terms this week and start the voting process after the court approves the disclosure letter to facilitate the completion of the restructuring as soon as possible, when FF's global financing and development will also be on the fast track. Jia Yueting made huge concessions in consultation with the debt committee, and Jia Yueting will no longer want it, according to the list of core terms of bankruptcy reorganization submitted.

  Jia Yueting Faraday Future 2020-02-29
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  In order to suffocate his dream, Jia Yueting finally went bankrupt!

  According to Jia Yueting's debt handling team, after seven months of application, negotiation, voting and court confirmation, Jia Yueting's personal bankruptcy reorganization was finally confirmed and approved by the California Central District bankruptcy reorganization Court at a hearing held in Los Angeles on May 21, local time, which means that the personal bankruptcy reorganization has officially entered the effective process. According to Jia Yueting's personal bankruptcy reorganization plan, Jia Yueting will transfer all the FF shares held by the individual to the creditor trust. Jia Yueting, the founder of FF, will no longer own FF shares, but will still lead the development of FF as CPUO. In short, Jia Yueting's debt will be similar to that of FF.

  Jia Yueting 2020-05-22
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  It is revealed that before Jia Yueting filed for bankruptcy, his monthly income was $93810, which is equivalent to that of an Audi.

  On October 14, Jia Yueting's debt handling team officially released relevant information about Jia Yueting's application for personal bankruptcy reorganization in the United States. according to its contents, Jia Yueting will set up a creditor trust and transfer all assets in the United States to creditors. As the news spread that Jia Yueting had filed for personal bankruptcy reorganization in the United States, his personal financial situation was also exposed. After the completion of the plan, Jia Yueting will no longer hold any stake in Faraday Future. Jia Yueting filed for bankruptcy on October 14, according to documents disclosed on the Epiq Cases website of the bankruptcy company.

  Jia Yueting bankruptcy reorganization 2019-10-17