Eagle Hospitality Gets Ch. 11 OK Despite Investor Appeal
By Rick Archer (December 20, 2021, 5:15 PM EST) -- A Delaware bankruptcy judge told Eagle Hospitality Group on Monday that it must narrow the exculpation clause in its Chapter 11 plan, but refused to hold up its liquidation while a pair of investors the judge had called "fraudsters" appeal their claims against the hotel chain.
At a virtual hearing, U.S. Bankruptcy Judge Christopher Sontchi told EHT US1 Inc. that he will approve the plan with narrower exculpations and no exculpations for the company's prepetition loan agent, but that he would not delay confirmation while Taylor Woods and Howard Wu appeal rulings Judge Sontchi has made dismissing their $250 million in...
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