SHANGHAI—Creditors of China’s HNA Group have voted to approve the company’s restructuring plan, according to a court comment posted on HNA’s official WeChat page on Saturday. The court in China’s southern island of Hainan, where the group is based, said the vote had been conducted in accordance with the country’s bankruptcy laws. HNA was placed…
China Airline Giant’s Chairman and CEO Both Detained for Suspected Crimes
Police arrested both a chairman and CEO of a top Chinese airline group for undisclosed crimes. China’s HNA Group announced in a Sept. 24 statement that its chairman Chen Feng had been taken into custody for criminal allegations. Its CEO Tan Xiangdong was also taken away. Communist Party liaison and head of a joint workgroup…
China’s HNA Group Ignores Promise to Repay Employees’ Investments in the Company
China’s HNA Group was recently hit with an open letter from a whistleblower who said it was written on behalf of more than 20,000 employees, accusing former chairman, Chen Feng, of an under-the-table operation to repay his own debts. Previously, The Epoch Times reported that the acquisitive conglomerate, once synonymous with China’s global ambitions, had entered…
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