On the morning of October 27, Sina Technologies News reported that Faraday Future had just issued a "solemn statement on the victory of FF's application for emergency relief arbitration", reiterating that Faraday Future (FF) had won a decisive victory in its application for emergency relief against Evergrande Health (00708.HK) submitted by the Hong Kong International Arbitration Center, and said FF was also the FF. Officially open global financing.
Faraday Future said that modern society through a sound judicial system to distinguish between right and wrong, reducing the black for white, free from the false situation. Recently, the outside world has misinterpreted Faraday Future's arbitration award, even deliberately misleading, confusing audiovisual, trying to deceive FF's overall success in the case of the truth and facts. The arbitration fee generally includes the case acceptance fee and the case handling fee. At the end of the case, the losing party shall bear the arbitration indemnity, which is the legal obligation of the losing party. It is also the basic legal common sense. There is no so-called borrowing or payment on behalf of the losing party.
The following is the full text of the Faraday Future statement:
Solemn statement on FF's application for emergency relief arbitration
A few days ago, Faraday Future (FF) in the Hong Kong International Arbitration Center for Hengda Health (00708. HK) emergency relief applications made a decisive victory, FF is officially opening global financing. In view of the erroneous reports of some media and the misleading information of the Hengda Health Bulletin, we hereby issue a solemn statement to clarify the following:
1. The arbitral tribunal rejected the suggestion that Evergrande refused to pay the financing fund (i.e. 500 million US dollars which should have been paid in advance this year) on the grounds that FF did not fulfil its obligations under the agreement.
2. FF provided evidence that Evergrande Health violated its financial commitment to FF and won the emergency relief arbitration, paving the way for seeking compensation and eventually terminating the agreement with Evergrande through arbitration.
3. The assertion in the Hengda Health Bulletin that the arbitration tribunal rejected F's application for the complete deprivation of Hengda's right to financing consent is totally inconsistent with the facts. According to the emergency relief award, FF has no relevant appeal in this emergency relief arbitration. The application of the $500 million alternative to FF raised by the arbitration tribunal is fully supported by the arbitration tribunal. Evergrande Health Bulletin deliberately confused the appeal of F in another arbitration with the emergency rescue and falsified it. It not only released the wrong information to the capital market, seriously misled the shareholders, but also created a truth contrary to legal facts, blinded the media and the public.
4. The argument that FF's application for the cancellation of the asset mortgage by Evergrande was rejected by the arbitral tribunal is also inconsistent with the facts. The award shows that the arbitral tribunal has not made any ruling on this application, but will decide the matter in another arbitration.
5. The arbitration tribunal ruled that Evergrande Health will be responsible for paying the legal expenses related to F's emergency relief arbitration, which belongs to the legal obligation of the losing party and is also the direct evidence of Evergrande's failure.
6. FF reserves the right to take further legal action against the announcement that Evergrande Health takes legal facts into account and misleads the capital market.
Faraday Future2018 October 27th
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