Judge approves Faraday Future founder’s personal bankruptcy plan

May 22 2020 by The Verge

 
Photo by Visual China Group via Getty Images/Visual China Group via Getty Images

Seven months after he filed for Chapter 11 bankruptcy to deal with $3.6 billion in personal debt, the reorganization plan laid out by Jia Yueting — the tycoon founder of troubled EV startup Faraday Future — has been approved by a judge.

In overly simple terms, the majority of the many people and companies he owes money — largely thanks to the collapse of LeEco, the overly-leveraged tech...

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