HNA Group goes bankrupt as China’s largest global asset buyer succumbs to loans after a decade of debt-fuelled shopping spree

Jan 29, 2021 | INVESTING

HNA Group, one of China’s largest global asset buyers spawned from the country’s largest privately owned airline, has declared bankruptcy, after a government-led exercise to restructure its debts failed to come up with money to repay bondholders and creditors.The company, based in the Hainan provincial capital of Haikou, received a summons from the provincial High Court informing it of a petition for bankruptcy and restructuring on January 29, HNA Group said in a statement on its WeChat account…

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