Thursday , May 13 2021

Evergrande Health: FF Arbitrage on Asset Loans – hkej.com



Evergrande Health (00708) and Faraday Future ("FF") have made new progress.

Evergrande Health announced that Smart King, a joint venture company with FF, once again submitted an urgent application to the Hong Kong Arbitrage Center for the deprivation of its assets.

Evergrande Health owned 6.75 billion yuan in June to acquire Shi Ying and contained 45% Smart King through Shi Ying. Since Smart King has 100% FF, Evergrande Health is considered to be 45% of FF.

In the 7th month, Jia Yueting proposed to the Hong Kong International Arbitrage Center to deprive Evergrande of a healthy financing certificate and to cancel all agreements, and also demand that he waive the asset loan. Finally, the arbitration panel Jia Yueting rejected his request, but agreed to let the FF from other funding. Channel access to funds.


Source link