Court orders healthtech founder Allen Law to pay $22m to Park Hotel liquidators

Businessman and hotelier Allen Law / Photo credit: The Business Times

Businessman and hotelier Allen Law has been ordered by the High Court of Singapore to pay S$29 million (US$22.4 million) for having breached his fiduciary duties owed to his company, Park Hotel Management Ltd (PHMPL), which is now in liquidation.

Together with firms under his control, Law is jointly and severally liable for another US$3.3 million, a court judgment released on Thursday indicated.

Separately, Law owns several healthtech ventures. In April, he committed US$70 million to launch Seveno Capital, a VC fund that invests in early- and growth-stage startups focused on extending human health spans.

Seveno Capital’s first investment is Japan-based A Cabin Company, which develops nature-based accommodations on the outskirts of major metropolitan areas.

Law also runs a medical center named Morrow in Singapore. The facility, which he positions as a one-stop shop for longevity and lifestyle services, was set to be built in the same building as Law’s Grand Park City Hall hotel.

Morrow aims to make use of tech like wearables and AI to deliver real-time health and lifestyle advice to its clients. After Singapore, Law plans to take the medical center to Hong Kong.

During Law’s defense in the court case, Justice Hri Kumar Nair found that the hotelier’s actions went beyond what is considered acceptable in a legal dispute. The judge labeled his behavior as “dishonest, abusive, and improper.”

The judgment comes after Law was found to have transferred PHMPL’s viable assets and businesses to himself “at a gross undervalue” a few months before the company went into liquidation.

PHMPL’s liquidators have requested an account of profits to be conducted for Yan Restaurant in the National Gallery Singapore – one of the assets involved in the case – and therefore cannot claim the value of its shares. Yan closed down in March 2025.

Law and one of his companies, Good Movement Holdings, will be jointly and severally liable to pay the sum once it has been determined. The judge ordered that the default interest rate of 5.33% will apply for this and all other sums Law and his companies will be required to pay.

Justice Nair also ordered Law’s legal team to provide the liquidators with documents required to determine the amount of damages they can claim for the hotel management agreements sold by PHMPL to another of Law’s companies, Park Hotel Group Management (PHGM), which manages Grand Park City Hall.

These documents are expected to show the revenue earned and the operating costs incurred by PHGM for hotel management services, as well as actual or forecasted profits or losses of these assets.

In addition, the judge approved the plaintiffs’ submission that Law and his companies pay costs for the lawsuit on an indemnity basis. Indemnity costs are awarded only in exceptional circumstances, against litigants who have engaged in unreasonable conduct.