Monday, September 21, 2020
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Faraday Future founder files for Chapter 11 bankruptcy

In the proposed plan, Yueting will use his ownership stake in the long-troubled, cash-strapped EV startup Faraday Future to create a creditor trust and repay his debts. That's not a total surprise. Last month, Yueting stepped down as CEO in order to create this trust. According to Faraday Future, the restructuring will not affect the…

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