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asia startups

Faraday Founder Files for Bankruptcy in U.S.

By
Wayne Ma
· · Source: The Wall Street Journal

The Chinese billionaire who founded electric-vehicle startup Faraday Future has filed for Chapter 11 bankruptcy in the U.S., The Wall Street Journal reported, citing court filings.  Jia Yueting, who also founded Chinese internet TV streaming service LeEco, is seeking protection from creditors owed as much as $3.6 billion, the newspaper said, adding Jia will give up his stake in the holding...

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