Investors In Bankrupt Hotel Co. Ordered To Return $2.4M

By Vince Sullivan (September 15, 2021, 3:24 PM EDT) -- Two investors of bankrupt hotel owner Eagle Hospitality Group must return $2.4 million to the debtor after a Delaware judge said the investors obtained the money through a fraudulent transfer of assets from the debtor after improperly applying for a loan under the federal Paycheck Protection Program.

U.S. Bankruptcy Judge Christopher S. Sontchi granted Eagle's motion for summary judgment Tuesday in a Chapter 11 adversary proceeding against investors Taylor Woods and Howard Wu, saying there were no material facts in dispute surrounding the allegations that the investors engaged in a fraudulent transfer, fraud and unjust enrichment.

The complaint stems from an...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!