FF Founder Jia Yueting’s Chapter 11 Restructuring Case Passes Voting At the Creditor Level
Jia Yueting, founder of Faraday Future (FF) has made noticeable progress recently in his personal bankruptcy case as the creditor voting results have been officially announced. According to EPIQ, a third-party voting agent, 69 out of around 100 creditors cast their votes and more than 80% voted in favor of the previously submitted plan, vast majority of creditors have shown support and acknowledgement of his case.
SEE ALSO: Faraday Future Seeks Creditor Support as Founder Jia Yueting Struggles With Bankruptcy
Jia’s debt project team stated that the voting results exceeded their already positive expectations and expressed their gratitude to Jia’s entire creditor base including those that cast the votes to reject. They hope the May 21 hearing will go smoothly. It could be a huge boost for FF’s financing efforts and its business development within its dual home markets of the United States and China.
The debt project team was revealed that during the one-month-long creditor voting solicitation process, more than half of creditors decided to cast their votes at the very last moment.
According to FF, the company is currently holding talks with investors from the Middle East, Europe and Asia-Pacific regarding debt and equity financing, with multiple investors showing interest in investing.