Banks Slam Eagle Hospitality Cost, Schedule In Del. Ch. 11

Law360 (February 8, 2021, 3:34 PM EST) -- Two top secured creditors of Eagle Hospitality's bankrupt fleet of upscale hotels have stepped up opposition to the debtor's Delaware Chapter 11 financing and sale plans, saying current roadmaps benefit nondebtor interests in Singapore at the expense of domestic creditors.

In recent court filings in the U.S. District Court for the District of Delaware, Bank of America and Deutsche Bank New York argued against the up to $125 million in debtor-in-possession financing proposed for the case and said the debtors' yearlong sale schedule is too long and ignores current favorable markets. The two banks are administrative agents for credit agreements with...

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