Eagle Hospitality flags unauthorised loan application, tax delinquency by sponsor
Unauthorised PPP loan application submitted on behalf of the master lessor of Queen Mary hotel
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Fiona Lam
Singapore
THE managers of Eagle Hospitality Trust (EHT) said an unauthorised application was made under the US Paycheck Protection Program (PPP) on behalf of the Queen Mary's master lessor, and that certain master lessees had not paid some taxes.
The managers' professional advisers had discovered an unauthorised PPP loan application dated May 18, 2020, submitted purportedly on behalf of the master lessor of the Queen Mary floating hotel. The master lessor is a subsidiary of EHT's real estate investment trust, EH-Reit.
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