Duo behind Eagle Hospitality Trust found in contempt of preliminary injunction

THE United States Bankruptcy Court for the District of Delaware has found Howard Wu and Taylor Woods to be in contempt of a preliminary injunction, and will convene a hearing on Friday (Nov 19) to consider sanctions - including whether to place the duo in custody.

According to court documents lodged on Monday (Nov 15), Judge Christopher Sontchi said the court is "gravely concerned that monetary sanctions will be insufficient" to compel Woods and Wu to comply with court directives.

Wu and Woods were former directors of Eagle Hospitality Trust (EHT) and co-founders of the trust's sponsor Urban Commons.