Eagle Hospitality seeks third extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Oct. 25 – Eagle Hospitality Real Estate Investment Trust unit EHT US1, Inc. is seeking a third extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company asked the court to extend the plan filing period through Dec. 31 from Oct. 25 and the solicitation period through Feb. 28 from Dec. 27.

As previously reported, the company filed a Chapter 11 plan of liquidation on Oct. 14.

The company said it won’t know until mid-December whether the plans will be confirmed.

“The debtors cannot be left in the position that their exclusive right to propose and solicit a Chapter 11 plan would have been effectively forfeited because no motion to extend such periods had been filed and, for some unforeseen reason, the plans could not be confirmed or the debtors, in the exercise of their fiduciary duties, needed to pursue an alternative plan,” the company said.

A hearing is scheduled for Dec. 9.

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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