Eagle Hospitality will donate $ 380 million in cash to ch. 11 Planning

By Jeff Montgomery (Oct. 15, 2021, 6:37 p.m. EDT) – Eagle Hospitality Group has a plan and disclosure statement in place for its Delaware Chapter 11 liquidation, with the goal of completing the vote by 9 December and get confirmation on December 9. 16 or 20 for a liquidation that will pay around $ 379.5 million to major creditors in the bankruptcy of 15 hotels.

Documents filed Thursday night show the real estate company’s lenders would see the biggest payback, at least $ 360.2 million, under a plan that has been underway since January, when the company moved most of its 18 hotels in Chapter 11 with over $ 500 million in debt. The proceedings that followed saw allegations of …

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