Eagle Hospitality gets OK for a $ 482 million hotel sale at Ch. 11

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Law360 (May 28, 2021, 8:26 p.m. EDT) – A Delaware bankruptcy judge on Friday approved Eagle Hospitality’s $ 481.9 million Chapter 11 sale of 14 of its hotels, rejecting calls from a failed bidder for more time to solidify a new last-minute offer.

Following a virtual hearing, Judge Christopher Sontchi rejected requests by Constellation Hospitality Group and a group of Eagle shareholders to delay the sale in order to give Constellation more time to secure financing for its new offer, claiming that Constellation’s offering wouldn’t be ready in the immediate future and didn’t appear to be a better deal.

“If you want to end a sales audience at the last …

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