EHT’s largest creditor speaks of disappointment as hospitality trust winds up
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Uma Devi
THE winding-up process of Eagle Hospitality Trust (EHT) has shed light on certain details of the lead-up to the group’s bankruptcy, particularly the role of Urban Commons as master lessee in the downfall of the trust. And at least 1 creditor is disappointed with how the affair has been handled from start to finish.
EHT is a stapled trust comprising Eagle Hospitality Real Estate Investment Trust (EH-Reit) and the dormant Eagle Hospitality Business Trust. It was listed on the Singapore Exchange (SGX) in May 2019, tanked upon its debut, and was suspended in March 2020.
A number of the trust’s units had filed for Chapter 11 Bankruptcy protection in the United States in January last year. They later filed a plan for liquidation, with bank lenders mopping up the bulk of the proceeds.
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