According to the official news of HNA Group, the reorganization plan of HNA Group and related enterprises has finally been approved by the court. On October 31, the Hainan Provincial Higher People’s Court served the “Civil Ruling” to HNA Group and related bankruptcy and reorganization enterprises.
According to the “Civil Ruling”,The High People’s Court of Hainan Province ruled to approve the “Reorganization Plan of Hainan Airlines Holding Co., Ltd. and its Ten Subsidiaries”, “The Reorganization Plan of Hainan Airlines Infrastructure Investment Group Co., Ltd. and its Twenty Subsidiaries”, and the “Supply and Marketing Consolidation Plan” The Reorganization Plan of the Group Co., Ltd. and its 24 Subsidiaries and the Reorganization Plan of the Substantive Merger and Reorganization of 321 Companies Including HNA Group.
The above ruling is the final ruling.
Earlier on October 23, the various reorganization plans (drafts) of the HNA Group and related enterprise bankruptcy reorganization cases had been voted through.
Before the vote, relevant people revealed that after communicating with some major creditors, it is not a problem to obtain more than two-thirds of the votes.
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