Faraday Future (FF) founder and CPUO Jia Yueting had finally completed personal bankruptcy restructuring on May 21, Los Angeles local time, at a hearing in the District Court for the Central District of California.
Jia Yueting has made noticeable progress recently in his personal bankruptcy case as the creditor voting results have been officially announced.
Faraday Future (FF) announced the appointment of Brian Krolicki as the first independent member of its board of directors.
Faraday Future's (FF) Global Partners Team recently released an open letter to its creditors, hoping they could vote in support of founder Jia Yueting’s bankruptcy and restructuring.
Jia Yueting released a statement after his Chapter 11 Disclosure Statement and the motion for approval of DIP Financing were approved.
Jia Yueting announced that the $600 million claim declaration amount is the joint guarantee debt of both his brother Jia Yuemin and himself.
On February 27, Faraday Future founder and former CEO Jia Yueting filed a "Plan Term Sheet" with the Bankruptcy Court for the Central District of California.
Gan Wei, Jia Yueting's wife initiated divorce proceedings and has filed a proof of claim in the amount of approximately $571 million, ever since Jia filed for bankruptcy back in October of 2019.
Chinese EV-startup Faraday Future and The9 Limited, an established Chinese internet company, formally signed a joint venture agreement on Mar. 24 to manufacture, market, distribute, and sell smart internet electric cars in China.