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Chinese conglomerate HNA Group Co. must pay its former business partner SL Green Realty Corp. about $185 million in a dispute over a bankrupt Manhattan skyscraper, an arbitrator said.
The arbitrator, former judge L. Priscilla Hall, found that real-estate investment trust SL Green was entitled to a $184.6 million payment over an investment that it made in HNA Group’s 245 Park Ave., according to documents made public in a New York state court Friday. SL Green should also be reimbursed for $856,000 in fees, she said.
