A SINGAPORE court application has been filed for the recognition of the order issued by the United States Bankruptcy Court to liquidate Eagle Hospitality Trust's (EHT) entities.

EHT is a stapled trust comprising Eagle Hospitality Reit (EH-Reit) and the currently dormant Eagle Hospitality Business Trust (EH-BT). In October last year, EHT's units in the US had filed for liquidation, with the trust's bank lenders set to mop up the bulk of the proceeds.

Under the confirmed Chapter 11 plan, the liquidation trustee will be authorised to dissolve the entities, other than EH-Reit and the Singapore entities Eagle Hospitality Trust S1 and Eagle Hospitality Trust S2.

Meanwhile, the Reit trustee will be authorised to dissolve EH-Reit, Eagle Hospitality Trust S1 and Eagle Hospitality Trust S2.

The application to the Singapore High Court sought for the recognition of the liquidating trustee as a foreign representative of the Singapore Chapter 11 entities and for the liquidating trustee to be entrusted with the administration and realisation of all or any part of the property and assets of the entities in Singapore, said DBS Trustee, in its capacity as trustee of EH-Reit on Friday (March 11).

It is also seeking the authorisation of the Reit trustee to take all appropriate and necessary steps to wind down the Singapore Chapter 11 entities in accordance with and subject to Singapore law, and perform other duties and obligations as set out under the confirmed plan.

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A pre-trial conference for the court application has been fixed on Mar 24 at 2.30 pm. The date for the substantive hearing has yet to be fixed.

Stapled securityholders who intend to attend the substantive hearing or object to the application should inform solicitors of the liquidating trustee by Mar 21.