(Yicai Global) Feb. 12 -- The wife of Chinese entrepreneur Jia Yueting has initiated divorce proceedings and is seeking USD571 million in property from the founder of electric automaker Faraday Future, The Paper reported today, citing a revised statement posted on the website of bankruptcy agency Epiq.
Jia and Gan Wei filed for divorce with a court in Chengdu, Sichuan province on Oct. 11, the report said. The case is pending.
After Jia announced in early October that he had applied for Chapter 11 bankruptcy reorganization with a US court, a document titled Schedules of Assets and Liabilities and Statement of Financial Affairs was published, listing lawsuits against the businessman.
He owes about USD3.77 billion, of which USD3.1 billion is secured debt, according to the Jan. 28 statement.
Under bankruptcy rules, if a relevant agreement is reached, the creditors are required to notify a Chinese court within 90 days that they have reached a settlement with Gan and ask the court to remove her from the list of creditors and persons subject to enforcement, according to the bankruptcy reorganization scheme.
Jia issued a revised scheme on Jan. 27, according to Epiq's website. A Californian court will hold a hearing on April 30 to consider dismissing or changing his Chapter 11 bankruptcy to Chapter 7. Jia needs to publish a third amended disclosure statement ahead of the hearing.