TransportationChina'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
KENJI KAWASE, Nikkei Asia chief business news correspondent
January 31, 2021 23:57 JST
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.