KUALA LUMPUR (Aug 29): The operator of the Trump International Hotel in Vancouver has filed for bankruptcy, Reuters reported the company saying yesterday.
TA Hotel Management Ltd Partnership (TAHMLP) (a unit of Malaysian company TA Global Bhd) announced that the temporary closure since March owing to the Covid-19 pandemic “impacted the hotel's business”.
"Its ongoing expenses since the outbreak of Covid-19 and lack of revenue has placed TAHMLP into a position of insolvency," the company said in a statement.
The Reuters report stated that documents filed in Canada on Thursday showed that TA Hotel Management Ltd Partnership owes C$4.79 million (US$3.66 million) and has assets of C$1.1 million.
Grant Thornton Ltd has been appointed as the trustee while a meeting of creditors will take place on Sept 16.
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