Creditors seek bankruptcy of China's once high-flying HNA Group

HNA Group built an empire on debt that once spread from Deutsche Bank to Hilton Worldwide

Creditors of HNA Group, one of China’s largest global asset buyers, have applied to a court for the company to be placed in bankruptcy and restructured, potentially giving a fresh start for the remaining assets of the once-highly acquisitive conglomerate.
 
HNA Group said in a WeChat post on Friday it had been notified by a Hainan court that its creditors had acted because it was unable to pay its debts. It said it would cooperate with the court.
 
HNA Group was once one of China’s most aggressive dealmaking firms. It used a $50-billion global acquisition spree, mainly fuelled