The dispute between Evergrande and Jia Yueting on FF control has not cooled with the result of emergency relief arbitration.
November 7, the Evergrande Health release announced that its time Ying company has filed a full counterclaim against Jia Yueting Pavilion and the joint venture smart King, asking Jia Yueting Pavilion and the joint venture company to fulfill the contract.
Evergrande Health said in the announcement that Jia Yueting Pavilion and the joint venture company forced the removal of the UFC appointed cashier, and forcibly prevented the UFC finance staff to enter the financial Review, resulting in Evergrande can not understand FF's financial situation. In accordance with the shareholder agreement, Evergrande has the right to conduct a financial review and appoint a cashier to FF, while agreeing to consent to payment if the cashier does not sign for seven days.
In response, people close to the UFC said that Jia Yueting Pavilion's above-mentioned actions have seriously violated the UFC should enjoy the rights of shareholders.
At the same time as Hong Kong fought back, UCLA filed a lawsuit against Jia Yueting Pavilion in Caimas, Is., the registered place of the FF offshore company.
Evergrande Health revealed that as a result of the joint venture's refusal to provide financial information and related documents, the Director of the joint venture company appointed by UFC filed an action against him in the Caimas, Is. court, requesting the Court to order the joint venture to provide all financial information and related documents of FF.
And because of the UFC health announcement when the United States is still in the early hours of the morning, as of the press release, FF side to the securities daily Reporter said that the company temporarily inconvenient to respond to this.
Earlier, after the announcement of the results of the Emergency relief arbitration, FF was eligible for 500 million of dollars in financing under strict conditions, in which the valuation of new stock financing must not be lower than the UFC post-investment valuation, and Evergrande enjoys the preemptive right to buy new shares.
Shortly afterwards, FF announced that it had officially signed on to Stifel, the top US investment bank, to speed up the financing process. Stifel is not known to invest directly in FF, who will evaluate FF's assets and then recommend FF to other investment agencies.
According to FF, Stifel has sent core staff to FF and discussed financing, project progress and supply chain relationship maintenance with FF finance, product and supply chain leaders.
However, some in the industry point out that potential investors are bound to be very cautious given the escalation of the dispute between FF and UFC and the UFC's stake in the joint venture. It is worth noting that although the dispute between Evergrande and FF is still pending, this has not affected the UFC's layout in the relevant areas. On the day before Evergrande Health issued a counterclaim announcement, Guanghui Energy, Guanghui Automobile, Guanghui Logistics issued a notice that the trading procedures of the Evergrande Group's three company controlling shareholders, Guanghui Group, have been fully completed, and the Evergrande Group holds a 40.964% stake in Guanghui Group, which is the second largest shareholder of Guanghui Group. The parties will accelerate the advancement of follow-up cooperation matters.
Under the previous agreement signed by the two sides, Evergrande Group spent 14.49 billion yuan on Guanghui group, the two sides will be in energy, automotive, logistics, real estate and other four areas to establish a full range of strategic cooperation. FF blow away Heng Generous teller | Xu Jiayin comprehensive counterclaim Jia Yueting Pavilion