HNA subsidiary CWT International defaults on loan

A logistics subsidiary of troubled HNA Group has defaulted on a $179m loan and has either to pay or lose assets, according to Reuters. The subsidiary, CWT, told the Hong Kong Stock Exchange it had not paid interest or fees to its lenders. Its assets include CWT Logistics, as well as engineering and finance services, and property in the UK and US. HNA bought CWT for $1bn in 2017 and merged it with one of its Hong Kong companies. HNA has been looking for a ...