HNA Group enters bankruptcy restructuring as China’s largest asset buyer succumbs to debt after decade-long shopping spree

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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…

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