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Eagle Hospitality Trust Hotels File for Bankruptcy


Mingtiandi
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The Westin Sacramento is among the entities filing for Chapter 11
Eagle Hospitality Trust took another step towards liquidation today as the Singapore-listed REIT revealed that 27 entities within its portfolio have filed for bankruptcy in the US.
In a filing to the SGX, DBS Trustee, which is looking after the REIT after its manager was dismissed by regulators late last year, listed the bankruptcies, which are mostly associated with US properties held through the trust. The trustee said that the filings under American Chapter 11 rules would protect the assets while they are marketed for sale.
The move to liquidate EHT’s assets comes after the trust’s securityholders late last month rejected a proposal to engage a unit of SC Capital as its new manager, which could limit opportunities to restructure the listed entity. ....

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