Eagle Hospitality unit gets approval of settlement with Marriott

By Sarah Lizee

Olympia, Wash., Nov. 2 – Eagle Hospitality Real Estate Investment Trust unit EHT US1, Inc. received court approval of a settlement with Marriott International, Inc., according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Under the settlement, Marriott will have an allowed general unsecured claim in the amount of $6.5 million.

Marriott has agreed to vote to accept the Chapter 11 plan, as long as the plan has the support of the official committee of unsecured creditors and the debtors.

The settlement also provides for mutual releases between the parties.

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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