Resolving personal debts through personal bankruptcy reorganization, reducing or even eliminating the negative impact of FF on its own debts, and then promoting the smooth follow-up of FF financing, became Jia Yueting’s “curve to save FF” road and embarked on the road of self-redemption. An important step.
文/张小旺 Edit/马程
After two years of driving to the United States with the identity of “Lai Lai”, Jia Yueting was “really” bankrupt this time?
Zinc Finance was informed that on October 13, Jia Yueting took the initiative to apply for personal bankruptcy restructuring in the United States.
The statement of Mr. Jia Yueting’s personal bankruptcy reorganization and the establishment of creditor’s trust issued by the Jia Yueting Debt Handling Group (hereinafter referred to as the “Declaration”) stated that Jia Yueting’s practice was to fulfill his commitment to the creditors’ responsibility, better and faster. Solve the problem of personal debt completely, so that every creditor can get equal opportunity to pay debts.
In this regard, some analysts pointed out that in the context of reality, to pay off debts, maximizing the asset value of FF and creditor trust is the only choice left by Jia Yueting, and the success of FF and the creditors will get enough in the future. The settlement of the amount is also the only way for Jia Yueting to go out of bankruptcy and reorganization and even obtain personal income.
From this point of view, through the personal bankruptcy reorganization to resolve personal debt, reduce or even eliminate the negative impact of FF caused by its own debt, and then promote the smooth follow-up financing of FF, became the road of Jia Yueting’s “curve to save FF” Take an important step in the road to self-salvation.
Active handover
The Jia Yueting Debt Handling Team stated that as part of the personal bankruptcy reorganization plan, the creditor trust and the trust trustee controlled and managed by the trustee will also be established at the same time. All the assets and related income of Jia Yueting identified by the US court will also be Transferred to creditors in this way.
After the completion of the program, Jia Yueting will no longer hold any FF equity.
The “Declaration” also stressed that Jia Yueting also offered to the creditors a triple guarantee when submitting a personal bankruptcy reorganization application.
The first creditor still retains the disposal of all Chinese assets that Jia Yueting and other direct debtors were originally frozen.Right;
Second, the original debtors other than Jia Yueting continue to fulfill their debt obligations;
Thirdly, compared with the previous right to claim debts from the guarantor Jia Yueting, all creditors have the right to participate in the disposal of Jia Yueting assets through the creditor trust and obtain relevant income according to this plan.
Generally speaking, all creditors can get all the personal assets of Jia Yueting in advance through the creditor trust, or they can get full repayment in the future after maximizing the value of the trust funds, while retaining other debtors other than Jia Yueting. Bonds.
Jia Yueting Debt Processing Team Releases Statement
The Beijing News reported that the personal bankruptcy reorganization and creditor trust plan applied by Jia Yueting, combined with the partner system that FF Company had completed earlier, can be regarded as a major positive for FF. Because the program can completely solve the remaining debt problems of Jia Yueting, it can also accelerate the financing of FF, and lay a solid foundation for the success of FF in the future, in order to maximize the value of FF company’s equity assets and the ultimate interests of creditors.
Return money
In addition to the rumors that Jia Yueting took the initiative to apply for personal bankruptcy, the message that “Jia Yueting has repaid the debt of more than $3 billion for the company” is also attracting attention.
The statement pointed out that more than 90% of Jia Yueting’s debts are debts guaranteed for the company. Since being over-frozen by a creditor (far more than the total amount owed), all Jia Yueting and LeTV’s assets and bank operating accounts have directly led the company. Unable to operate normally.
Jia Yueting faces a serious debt crisis
In other words, until LeTV collapsed, Jia Yueting has repaid over $3 billion in debt for the company, and the total amount to be repaid is about $3.6 billion, minus the frozen domestic debts to be disposed of and the convertible bonds. The net debt is about $2 billion.
So it seems that Jia Yueting does not seem to be “old Lai”.
Jia Yueting’s crisis of trust has probably started in 2017. Since May of this year, Jia Yueting’s position has begun.