Eagle Hospitality amended plan draws objection from U.S. trustee

By Sarah Lizee

Olympia, Wash., Dec. 9 – Eagle Hospitality Real Estate Investment Trust unit EHT US1, Inc.’s amended Chapter 11 plan of liquidation drew an objection on Wednesday from Regions 3 and 9 U.S. trustee Andrew R. Vara, according to a filing with the U.S. Bankruptcy Court for the District of Delaware.

Vara said that although the plan has been amended since the time of his last objection, his concerns about the non-consensual third-party releases and the opt-out mechanism remain outstanding.

The U.S. trustee also said his objections to the exculpation of the pre-petition agent and its current and former related persons, in their capacity as plan proponents, are also unresolved.

The plan confirmation hearing is scheduled for Dec. 20.

Singapore-based Eagle Hospitality owns a portfolio of corporate, leisure and airport hotels across the United States. U.S. affiliate EHT US1 filed Chapter 11 bankruptcy on Jan. 18, 2021 under case number 21-10036.

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