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Liquidators get nod to wind up unit of Park Hotel Management
They will probe fund transfers tied to parent firm's shareholder
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The High Court ruled yesterday that the liquidators of Park Hotel Management (PHM) can wind up its wholly owned subsidiary Park Hotel CQ over $6.3 million in debt.
The debt includes $5.92 million owed by former tenant Park Hotel CQ to Ascendas Hospitality Reit, the landlord of the former Park Hotel Clarke Quay.
