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China's HNA Group reveals years of unusual cash movements

Subsidiaries' disclosures follow bankruptcy petition filings by creditors

The creditors seeking a bankruptcy reorganization of HNA Group include China Huarong Asset Management, Ping An Bank, Bank of Hainan, Chang'an Bank, a few travel agents and many suppliers.   © AP

HONG KONG -- Companies under China's HNA Group have reported finding irregular outflows of billions of dollars in cash, an ominous development following moves by creditors to call for a bankruptcy restructuring of the formerly highflying conglomerate and its subsidiaries.

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