Hong Kong Judge Orders Liquidation of HNA Investment Unit

An investment arm of HNA Group Co., the Chinese conglomerate once known for its purchases of overseas assets, was ordered to liquidate by a Hong Kong court on Monday.

The decision against HNA Group (International) Co. came after law firm Ashurst Hong Kong filed a winding-up petition against the unit in April.

HNA Group (International), formerly known as both HNA Group (Hong Kong) Holding Co. and HNA Group International Headquarter (Hong Kong) Co., carried net liabilities of HK$23.7 billion ($3 billion) as of Dec. 2023, according to a financial report. The company has 17 subsidiaries, most of ...