HONG KONG -- A Chinese court has ruled that HNA Group's corporate management was "highly mixed up" and more than 300 of its affiliates did not function as independent companies.
China debt crunch
Chinese court says troubled HNA Group's businesses highly chaotic
Ruling cites governance failure and merges 320 affiliates in restructuring
The People's High Court of Hainan Province chose the path of essentially combining HNA Group companies after concluding that they are distinguished only by their names. © Reuters
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