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 …

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas, and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of prosecution, etc.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, requests, etc.
  • Create personalized alerts for specific case articles and topics and more!


Source link

About Joel Simmons

Check Also

Administrative action remains possible before the legal decisions of the GSE (OTCMKTS: FMCC)

PictureLake/E+ via Getty Images Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) are two conservatories that …