HNA share pledges are said to be behind frozen bank accounts
Shares backing Ningbo Commerce Bank's 450m yuan loan to HNA have been pledged to another creditor
Fri, Jan 26, 2018 - 5:50 AM
This episode illustrates how financial pressures have been piling up at HNA, one of the world's most indebted companies, after it spent billions in an acquisition spree.
BANK accounts related to HNA Group Co were temporarily frozen after one of its lenders concluded that the collateral being put up by a group unit was being used for multiple borrowings, according to people with knowledge of the matter.