If FF is still unable to finance in the short term, then all planning is limited to “planning”.
Editor’s note: This article is from “Daily Economic News” , Author: Li Xing, editor: Duan Siyao.
Since the loss of eco-escapes in the United States, Jia Yueting has also been named the “Lai Lai”. For this label, Jia Yueting also admitted.
On November 11th, Jia Yueting said in a book entitled “Returning debts to return to China and making FF a burden that I have always shouldered”: “Repaying debts and returning to the country is the responsibility that I always bear.” In this letter, Jia Yueting not only apologized to the creditors, but also admitted for the first time that he was the first responsible person of LeTV’s ecological failure, and ridiculed himself is the “old Lai” in people’s eyes.
Jia Yueting revealed in the above letter that in the United States for more than two years, he was mainly engaged in two things: one is to pay back the debts; the other is to make FF (Faraday Future) a success.
To return the debt as soon as possible, Jia Yueting officially applied to the United States for personal bankruptcy reorganization on October 13. However, this operation is not smooth. “For the first time, the creditors’ voting meeting held against Jia’s personal bankruptcy and reorganization was not satisfactory. The number of people who participated in the voting was very small, mostly abstaining.” An FF insider revealed in an interview with the Daily Economic News reporter. Jia Yueting’s personal bankruptcy reorganization application is still in the normal progress, and the relevant responsible team members are actively adjusting the plan.
After giving up the position of FF Global CEO, Jia Yueting followed suit to apply for personal bankruptcy, and then to today’s apology creditors, all of them reflected the urgency of Jia Yueting’s return to China. However, whether Jia Yueting can rely on this move to get the approval of all creditors and successfully complete the application for personal bankruptcy reorganization is still a mystery.
The first round of creditors’ voting results are not satisfactory
“Compared with bankruptcy liquidation that completely relies on debt, even if bankruptcy reorganization is more difficult and more responsible, I will not hesitate to choose it.” Jia Yueting said in the above letter, for himself, Repaying money, repaying debts, restoring reputation, and making FF a dream are the most important goals in the next phase of life.
On October 14th, Weibo’s “Declaration on Mr. Jia Yueting’s Personal Bankruptcy and Restructuring and Establishment of Creditor Trust” (hereinafter referred to as “Declaration”) issued by “Jia Yueting Debt Disposal Group” stated that FF Chief Product and User Officer (CPUO) Jia Yueting has taken the initiative to apply for personal bankruptcy reorganization on October 13th in the United States according to relevant US laws.
According to the bankruptcy reorganization plan, a creditor trust controlled and managed by a trustee will be established, and the US court will determine