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贾跃亭债务处理小组19日表示，Faraday Future创始人兼CPUO贾跃亭今天在加州中区破产法院举行的听证会上取得非常正面的结果。贾跃亭先生的破产重组披露声明和申请持产债务人贷款的动议获得了法院的批准。与此同时，法院全面驳回了上海懒财试图驳回该破产重组案的动议。
自此贾跃亭先生的破产重组计划可以启动债权人投票程序。一旦该计划获得了债权人的投票支持，并且获得了法院的批准，贾跃亭先生的破产重组方案则可以立即生效。
本次重大进展对FF的股权融资和中美双主场策略的落地实施产生重大利好。更多细节请参见贾跃亭债务处理小组声明。
Faraday Future
美国加州2020年3月19日
有关披露声明获得加州破产法院批准且方案进入投票程序的声明
2020年3月19日上午，美国加州中区破产法院批准了贾跃亭先生的第四修订版破产重组披露声明，也批准了其申请持产债务人贷款（DIP financing）的动议，并基于实体权利拒绝懒财要求驳回破产重组的动议。这意味着债权人现在可对贾跃亭先生第三修订版破产重组方案进行投票，如果债权人投票支持本方案且方案获得法院批准，贾跃亭先生的破产重组方案则可以立即生效。
有关本次判决的具体细节如下：
1． 法院正式拒绝了懒财的动议，认为懒财针对贾跃亭先生破产案申请缺乏善意的指控所提供的证据为“nil or de minimis”（零或微不足道），也就是说懒财提供的证据为零、或微不足道，不应予考虑。法院判定，贾跃亭先生从一开始在特拉华区法院申请破产并没体现出他缺乏善意。 法院还称，在贾跃亭先生的破产重组案期间，他参加了两次由美国司法部受托人办公室主持的“债权人会议”，并对问询进行了回应，给官方非担保债权人委员会及其专业人士提供了大量文件，配合债委会针对多个证人的问询，在由债委会及其中一位债委会成员组织的为期两天的听证会上提供了正式的证词，这一切都展示出贾跃亭先生在其第破产重组案中的透明度。法院评论道，贾跃亭先生对推进其破产重组案显示出了极大的积极性，也积极参与了与债委会之间关于方案制定的讨论。
2． 法院批准披露声明意味着一旦征票资料包邮寄给债权人后将启动投票流程，这是重大的里程碑式进展；同时，DIP financing的批准也会为贾跃亭先生的第11章破产资产提供关键资金，以支持本案顺利完成。
3． 贾跃亭先生在与他的债权人的多轮协商中做出了巨大让步， 包括不再要求在中国解除针对其个人的索赔， 直到债权人从信托中受偿比例达到40%获准索赔分配额，或者其从信托以及其他途径获得的偿付比例达到获准索赔分配额的100%（孰早）。债权人将有权在国内继续处置破产提起日前已经冻结或已抵押、质押的资产，且受偿金额不计入上述40%； 同时获准索赔的持有人将会再获得4%的利息（基于破产申请日当天未偿本金计算）以及根据累计阶梯分账的原则可能获得过10亿美元的超额收益。上述让步体现了贾跃亭先生对Faraday Future（FF）战略的巨大信心，以及他已经彻底解决他个人债务问题的信念；
4． 考虑到中国目前存在强烈的经济增长需求，我们预计市场流动性供给和招商力度会显著增强。近期，已有包括地方政府和股权投资者在内的多方机构与FF联系，协商股权融资和中国落地的方案。
5． 作为整体债务重组方案的一部分，随着合伙人机制的落地实施，贾跃亭先生把顶层决策权已经让渡给合伙人委员会。FF在顶层治理结构调整方面的创新，为FF成为行业变革引领者奠定了坚实的基础；
6． 贾跃亭先生破产重组解决的基本都是因个人担保产生的债务问题，均由乐视实体融资时的个人担保产生。（因此，如果本次破产重组方案被确认，这将解决大部分乐视体系债权人和股权投资人的问题；
7． 有关乐视网债务问题，贾跃亭债务处理小组与乐视上市体系和国内相关监管部门一直保持着良好的沟通和实际方案的推进，从 2017 年 7 月开始，累计解决上市体系（含乐融致新）关联欠款超27亿元人民币，具体可参照上市公司历次公告。在此次贾总破产重组方案创建的债权人信托方案中，也已经同步考虑其乐视网相关债务问题。
贾跃亭债务处理小组
美国加州2020年3月19日
Statement on Faraday Future Founder Jia Yueting‘s Individual Bankruptcy Restructuring Entering Into Plan Voting Process
Yueting Jia （YT）， the Founder and CPUO of Faraday Future （FF）， has achieved very positive result at the hearing held by the United States Bankruptcy Court for the Central District of California today． YT’s Chapter 11 Disclosure Statement and the motion for approval of DIP Financing were approved by the Court． Meanwhile， the Court also denied SLC’s motion to dismiss the Chapter 11 case with prejudice．
Accordingly， YT‘s Chapter 11 Plan can now be voted upon by his creditors． Assuming creditors vote in support of the plan and the Court approves it， YT can immediately begin to implement it thereafter．
This important progress will in fact benefit FF’s financing efforts and the implementation of its China-US dual home strategy． For details， please refer to the statement of YT’s debt project team：
Faraday Future
03/19/2020
Statement on Faraday Future Founder Jia Yueting‘s Individual Bankruptcy Restructuring Entering into Plan Voting Process
Yueting Jia （YT）， the Founder and CPUO of Faraday Future （FF）， has achieved very positive results at the hearing held by the United States Bankruptcy Court for the Central District of California today． YT’s Chapter 11 Disclosure Statement and the motion for approval of DIP Financing were approved by the Court． Meanwhile， the Court also denied SLC’s motion to dismiss the Chapter 11 case with prejudice．
Accordingly， YT‘s Chapter 11 Plan can now be voted upon by his creditors． Assuming creditors vote in support of the plan and the Court approves it， YT can immediately begin to implement it thereafter．
This important progress will in fact benefit FF’s financing efforts and the implementation of its China-US dual home strategy． For details， please refer to the statement of YT’s debt project team：
Faraday Future
03/19/2020
Statement on The United States Bankruptcy Court Approval of Disclosure Statement and Entering into Plan Voting Process
On March 19， 2020， the United States Bankruptcy Court for the Central District of California approved YT‘s Fourth Amended Chapter 11 Disclosure Statement， granted his motion for approval of debtor in possession （DIP） financing， and denied with prejudice the motion to dismiss the chapter 11 case filed by Shanghai Lan Cai Asset Management Co．， Ltd．（SLC） Accordingly， YT’s Third Amended Chapter 11 Plan can now be considered and voted upon by his creditors． Assuming creditors vote in favor of the Plan and the Court approves it， YT can immediately begin to implement it thereafter．
Some of the details of today’s ruling follow below：
- In denying SLC’s motion， the Court found that SLC’s allegation that YT’s bankruptcy case was commenced with a lack of good faith was supported by “nil or de minimis” evidence， meaning SLC presented no evidence or evidence too trivial to merit consideration． The Court found that the initial filing of YT’s bankruptcy case in the District of Delaware did not show YT lacked good faith． The Court also stated that， during the course of his chapter 11 case， YT had responded to inquiries at two “Meetings of Creditors” conducted by the U.S． Department of Justice’s Office of the United States Trustee， provided voluminous documentation to the Official Committee of Unsecured Creditors （Committee） and its professionals， facilitated the appearance of various witnesses for the interview by the Committee， and provided formal testimony over two days of depositions by the Committee and one of its members， all of which demonstrated that YT has exhibited no lack of transparency in his chapter 11 case． The Court remarked that YT was prosecuting his chapter 11 case with “alacrity” and that， in formulating his Plan， he was actively engaged with the Committee．
- The Court’s approval of the Disclosure Statement means that the voting process will start once solicitation packages are mailed to creditors． This is a major milestone． At the same time， the approval of DIP financing will provide critical financing to YT’s chapter 11 estate to support the completion of the case．
- YT made significant concessions during several rounds of negotiations with his creditors， including no longer requesting to release claims against him in China until the creditor distributions from the trust reach 40% of the allowed claim allocation amount， or until the creditor distributions from the trust and other distributions reach 100% of the allowed claim allocation amount， whichever comes earlier． Creditors will have the right to continue to dispose of assets that had been frozen， collateralized or pledged before the petition date in China， and the amount of such recovery will not be included in the 40% mentioned above． At the same time， holders of the allowed claims will receive 4% interest on the outstanding principal amount of their claim as of the petition date and potentially earn over 1 billion US dollars in upside based on a scaling model． The above concessions demonstrate YT‘s great confidence in Faraday Future’s （FF） strategy， as well as his belief that he has completely addressed his debt issues．
- Considering the strong need for economic growth in China， we expect to see more liquidity in its supply and take stronger measures to attract investment． Lately， many institutions including local governments and equity investors have been in touch with FF to discuss equity financing and China localization plans．
- As part of the restructuring plan， along with the implementation of the Partnership structure， YT has yielded top-level decision making to the partners’ committee． FF‘s innovation in the top-level governance structure is setting a solid foundation for it to become a transformative leader in the industry．
- YT‘s restructuring mainly addresses his debts arising out of personal guarantees he issued in connection with obtaining financing for the Leshi entities． （Therefore， if the Chapter 11 plan is confirmed， it will resolve issues with most of the Leshi entities’ creditors and equity investors）．
- YT‘s debt project team has maintained good communication and is working actively with the listed entities of Leshi as well as relevant monitoring authorities in China regarding Leshi’s debt issues． Since July of 2017， a total of 2.7 billion RMB of debts related to the listed entities （including Lerong Zhixin） have been addressed， the details of which can be found in the various press releases of the listed company． The creditor trust created in YT‘s chapter 11 plan also has taken into consideration YT’s Leshi.com-related debts．
YT‘s debt project team
March 19， 2020
