Insider: FF is on the verge of bankruptcy and gets $500 million in financing.


Insider: FF is on the verge of bankruptcy and gets $500 million in financing.

A person familiar with the matter said that the emergency arbitration tribunal would not adjudicate on whether the parties breached the contract. It was an interim relief measure before the formal arbitration, with the aim of maintaining the company's status quo until the final arbitration. Therefore, there is no claim of victory in emergency arbitration, but a balance between the claims of both parties and the rejection of claims that seriously harm the interests of the other party. Jia Yueting's application for "complete deprivation of Evergrande's financing consent" and "new application for rescission of Evergrande's assets mortgage" could not be supported by the arbitration center. Considering that FF is on the verge of bankruptcy, in order to protect the common interests of shareholders, the arbitrator agreed to FF to carry out financing under strict conditions. (Securities Times)


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