NYC Tower Owner Seeks Del. Ch. 11 Order For Doc Access

By Jeff Montgomery (November 15, 2021, 7:07 PM EST) -- Owners of a bankrupt, prominently positioned midtown New York City office tower sought court-ordered access Monday to the venture's books and records, alleging denials and delays by its allegedly conflicted property manager, which in turn accused the owner's China based parent of neglecting the site's needs.

PWM Property Management LLC, an affiliate of China conglomerate HNA Group, sought Chapter 11 protection for the 44-floor 245 Park Avenue building and its $2.2 billion in debt on Nov. 1. The owner accused property manager S.L. Green Management Corp. of wrongly imposing "inappropriate restrictions" on the documents, potentially impeding the bankruptcy case for its...

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