HONG KONG -- China's embattled HNA Group revealed on Thursday that it owes $170 billion to creditors, marking a turning point in the government-led restructuring of one of China's highest-profile bankruptcy cases.
Gu Gang, head of HNA's court-appointed working group and secretary of the debt-laden conglomerate's most important Communist Party cell, reported to almost 2,000 party cadres and employees of subsidiaries in an internal meeting, according to HNA Group's official WeChat account.
