Article by [author-name] (c) South China Morning Post - Read full story here.
HNA Group enters bankruptcy restructuring as China’s largest asset buyer succumbs to debt after decade-long shopping spree
HNA Group, one of China’s largest global asset buyers spawned from the country’s largest privately owned airline, has entered bankruptcy restructuring, after a government-led exercise to work out its debt failed to come up with money to repay bondholders and creditors.The company, based in the Hainan provincial capital of Haikou, was served with a petition on January 29 in the provincial High Court seeking its bankruptcy and for it to undergo restructuring, HNA Group said in a statement on its…