Jia Yueting Demands Time for LeTV to Repay All Its Debts
Xu Wei
DATE:  Jul 06 2017
/ SOURCE:  Yicai
Jia Yueting Demands Time for LeTV to Repay All Its Debts Jia Yueting Demands Time for LeTV to Repay All Its Debts

(Yicai Global) July 6 -- Jia Yueting, founder of LeTV Holdings (Beijing), said in a statement today that he will undertake all responsibility for the company's employees, users, clients and investors. Its suppliers are recovering debts from the company, he claimed. 

Jia underlined that he remains to be LeTV Holdings' executive director and the biggest shareholder. Resigning from his position as the CEO and even other more important positions are just to advance mass production of FF 91 as soon as possible, he claimed.

LeTV will continue to roll out the best products. And the company will proceed with its car program according to its pre-set strategy. Even if there is a main bank run on LeTV, it will never give up its dream of revolutionizing the automobile industry, he remarked. Jia asked everyone to give some time to LeTV and its car program, claiming that LeTV will repay all its debts to financial institutions, suppliers and any other parties.

LeTV was pulled into a new round of crisis after a court has frozen assets worth CNY1.237 billion owned by Jia Yueting, his wife and three LeTV-related companies. Some media reported that debt collectors, including suppliers, swarmed into LeTV's headquarters each day to require the company to repay debts. At first, security guards stopped suppliers from entering the offices, but later turned a blind eye to it, said media reports.

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