News Analysis HNA Group, the acquisitive conglomerate once synonymous with China’s global ambitions, has succumbed to its massive debt load and entered bankruptcy proceedings at the behest of its creditors. The Hainan-based company was served by its creditors on Jan. 29 in the provincial court to begin bankruptcy restructuring, the company announced on its WeChat…
Supreme Court Rules on Seized Property in Bankruptcy
The Supreme Court has ruled that debtors are not entitled to have impounded property immediately returned to them as soon as they declare bankruptcy. The 8-0 opinion in the case known as City of Chicago v. Fulton was written by Justice Samuel Alito. Justice Amy Coney Barrett, who was not yet a member of the…
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