HNA Group controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Bankruptcy and governance criticism
HNA entered bankruptcy proceedings after restructuring efforts failed. The court process criticized aspects of the group’s corporate governance and relationships among affiliated entities.
2021
Chen Feng and Tan Xiangdong subject to criminal coercive measures according to law
On September 24, 2021, HNA Group announced that Chairman Chen Feng and CEO Tan Xiangdong were placed under coercive measures by public security organs according to law on suspicion of illegal and criminal acts. This entry records the criminal procedure based on that year's company announcement and Reuters reports, and does not describe the coercive measures themselves as a court conviction.
2021
Repayment difficulties for large-value wealth management products and dispute over claims disposal in bankruptcy restructuring
During HNA's restructuring in 2021, Caixin reported on the disposal of claims for more than 30 billion yuan in wealth management products, involving employees and other investors; subsequent repayment plans sparked disputes over the treatment of similar claims and actual recoveries. This entry concerns wealth management performance and restructuring issues and is recorded separately from the group's responsible person being subject to criminal measures.
2017
Debt, opaque ownership and regulatory scrutiny
HNA’s rapid overseas acquisition program and complex affiliate structure drew scrutiny as leverage rose and Chinese authorities moved to limit risky foreign investment and lending to highly indebted private conglomerates.