Chinese Conglomerate HNA Gets Creditor Nod on Debt Restructuring

HNA Group Co.has obtained sufficient agreements from creditors on its debt restructuring plan, according to the Chinese conglomerate’s restructuring administrator, as the firm seeks to come out of a liquidity crunch.

Creditors of HNA and 320 related companies approved the proposal, according to a statement dated Saturday that was filed on China’s National Enterprise Bankruptcy Information Disclosure Platform. HNA will now seek approval with the Hainan High People’s Court, it said in the statement. Two separate disclosures said restructuring plans for Hainan Airlines Holding Co. and HNA Infrastructure Investment Group Co. and their subsidiaries were also sufficiently backed by ...