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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'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 creditors' meeting begins, the success of bankruptcy reorganization will determine the life and death of FF.

  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, saying he was confident of reaching a debt restructuring plan with creditors.

  Jia Yueting bankruptcy reorganization 2019-11-26
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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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  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
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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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  Jia Yueting: if I return to China, I will work for the creditors! Netizen: is it not easy to mix in the United States?

  Jia Yueting wrote to more than 100 creditors on November 11, saying that he was the first person in charge of Letv's ecological failure, resulting in the debt could not be repaid in time and would be in closer contact with the creditors in the future. "during his two years in the United States, paying off debts and returning home and turning FF into a business are his two major tasks." According to Jia Yueting's letter, he has repaid more than $3 billion in debt and about $3.6 billion in outstanding debt, minus the secured debt that has frozen domestic assets to be disposed of and convertible, with a net debt of about $2 billion. Jia Yueting also said in the letter that compared with the default bankruptcy liquidation, although bankruptcy restructuring is difficult.

  Jia Yueting bankruptcy reorganization 2019-11-11
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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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  Whether Jia Yueting, who has a monthly income of 93000 US dollars, can go bankrupt and reorganize needs to be voted by creditors.

  A few days ago, the news that Jia Yueting, founder of FF, voluntarily filed for personal bankruptcy reorganization was confirmed that Jia Yueting had applied to the US court for personal bankruptcy reorganization in accordance with Chapter 11 (chapter 11) of the relevant US law. According to the scheme, all FF shares and related income rights held by Jia Yueting are officially transferred to the creditor trust, which will be controlled and managed by the creditor committee and the trust trustee. This means that since the outbreak of the Letv crisis, FF, which has been regarded as the hope of repayment, no longer belongs to Jia Yueting. In the face of the approaching debt, is Jia Yueting able to evade debt repayment? In this regard, responsible for the agent.

  Whether Jia Yueting can go bankrupt and reorganize depends on the vote of the creditors. 2019-10-17
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  Jia Yueting sent a letter of apology!

  Jia Yueting sent a letter of apology!

  Jia Yueting sent a letter of apology! 2020-07-02
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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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  FF online canvassing: only if FF succeeds, can Jia Yueting pay off his debts.

  According to the Faraday Future official account, FF Global Partners issued a letter to the creditors of the company's founder, Mr. Jia Yueting. FF said in the letter that it is hoped that all creditors will vote in favor of the bankruptcy restructuring of Jia Yueting, founder of FF. Only if FF is a great success, can Jia Yueting achieve full or even over-payment of debts, realize his desire to fulfill his duties to creditors, and FF's dream of building a shared intelligent travel ecosystem and transforming the automobile industry. FF also stressed that FF91 is only one step away from mass production, and FF has filed nearly 1500 patent applications in the past six years.

  The future of Faraday 2020-04-23
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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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  Brilliance China is gone!

  According to Caijing Automobile, on August 31, the substantive merger and reorganization of 12 enterprises, including brilliance Group, held its second creditors' meeting, at which there were three motions, including property management and price change plans, two proposals for the establishment of a creditor committee, and the core proposal for BMW China to acquire brilliance China Brand. All three bills were passed by the vote of the creditors. According to reports, BMW China will acquire brilliance-related assets and brilliance manufacturing equity, including land use rights, buildings, machinery and equipment and other related assets, as well as brilliance Group's 100% stake in brilliance Automobile Manufacturing Co., Ltd.

  Brilliance car 2021-09-01
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  Another vehicle manufacturing company has been ruled bankrupt and reorganized

  Recently, Jinbei Automobile issued a notice saying that the company Atomic Company and the guaranteed party, Shenyang Jinbei vehicle Manufacturing Co., Ltd., were ruled bankruptcy and reorganization by the Shenyang Intermediate people's Court on December 30, 2022. The company will be compensated as its ordinary creditor, and the company has begun to prepare to declare its claims and expected debts to Jinbei vehicles.

  Brilliance Group Company creditor's Rights brilliance Group Golden Cup Automobile Co. Ltd. Shenyang Holdings Enterprise creditors Brands vehicles 2023-01-02
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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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  Jia Yueting attended the hearing again, considering the mass production plan of FF back home.

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  Jia Yueting 2019-12-07
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  Operating at a loss, Rundong Automobile Group was filed for bankruptcy reorganization by creditors.

  After a substantial expansion of the automobile dealer group, as the market enters the stock competition stage, some dealers will also enter the survival status of operating losses, shutting down or selling their business. From the huge group selling stores to surviving, to Zhengtong Motors being forced to sell its stake because hundreds of millions of dollars in loans are difficult to repay, dealer groups have also begun to split into two levels. Now, another dealer group has had an accident. Rundong Motor, which ranked more than 20 in China in terms of revenue in the past, not only sold its stores substantially, but also was filed for bankruptcy reorganization by creditors because of overdue debt repayment. On August 25, Rundong Motor announced that a creditor had been in August 2020.

  Rundong Automobile car Dealer 4S Store 2020-08-25
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  FF: the new senior joined Faraday in the future, and the FF91 interior will be shown for the first time next week

  Benedict Hartman, a former BMW executive, and Bob Kruse, a former Karma and chief technology officer of Qoros Motor, will join Faraday Future, according to an announcement on the website of Faraday Future (FF). According to the official website announcement, Bob Kruse will join FF this month as vice president of product execution (engineering and manufacturing). According to reports, before joining FF, Bob had more than 30 years of professional experience in General Motors and start-ups, and served as the chief technology officer of Karma and Qoros. After entering FF...

  The future of Faraday 2019-11-15
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  It is revealed that Jia Yueting bought a 20 million luxury house before he went bankrupt. FF should report that it is a pure rumor.

  Before filing for bankruptcy, Jia Yueting bought a 3300-square-foot California $3 million (21.14 million yuan) mansion in August on the Palos Vedes Peninsula in Los Angeles, just one step away from his coastal mansion, US media The Verge reported on Oct. 30. The media also reported that Jia Yueting Line holds an Lmur1 visa, which is based on the condition that his company is operating well. So if FF goes bankrupt, or his job at FF is lost, Jia Yueting may be forced to return to China. The report said Jia Yueting still made some decisions about FF.

  Jia Yueting goes bankrupt 2019-10-31