KUALA LUMPUR (Feb 23): A US federal judge has given the green light for the US Department of Justice (DoJ) and New York developer Steven Witkoff’s proposed plan to sell the Park Lane Hotel, The Wall Street Journal (WSJ)reported.

Controversial businessman Low Taek Jho, better known as Jho Low, owned a major stake in the hotel located in Manhattan, New York.

The WSJ said US District Court Judge Dale Fischer had on Tuesday approved the plan, which was part of a cooperation agreement between Witkoff and the US government to stabilise the financially troubled property and remove Low from the group that owns it.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook