Chinese Creditor Says Faraday Founder Is Abusing U.S. Bankruptcy

Nov. 14, 2019, 10:19 PM

A Chinese creditor of Jia Yueting, founder of electric car startup Faraday Future in California, is seeking dismissal of the billionaire’s Chapter 11 case, accusing him of unjustly attempting to use the U.S. bankruptcy system to avoid his liabilities abroad.

Allowing Jia to continue the case he filed last month in the U.S. Bankruptcy Court for the District of Delaware would unfairly force a creditor based almost entirely in China to try to recover money in a jurisdiction that is not properly suited to resolve their claims, Shanghai Lan Cai Asset Management Co. Ltd. said in a Nov. 13 court...

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