Two top HNA Group executives – founder and former chairman Chen Feng and former chief executive Adam Tan Xiangdong – were detained by Chinese police last Friday (China.Table reported). The arrest for “unspecified crimes” follows just a week after the announcement that the HNA conglomerate would be broken up into four separate companies following its bankruptcy restructuring. Based on a restructuring plan unveiled on September 18, each unit will now operate independently in aviation, airport operations, finance, and commercial sectors.
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