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Full title: Second Motion to Extend Exclusivity Period for Filing a Chapter 11 Plan and Disclosure Statement Filed by EHT US1, Inc.. Hearing scheduled for 9/30/2021 at 11:00 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #6, Wilmington, Delaware. Objections due by 9/16/2021. (Attachments: # 1 Notice of Motion # 2 Exhibit A - Proposed Order) (Dean, G.) (Entered: 08/12/2021)

Document posted on Aug 11, 2021 in the bankruptcy, 11 pages and 0 tables.

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In support hereof, the Debtors respectfully state as follows: 1 The Debtors in these chapter 11 cases, along with the last four digits of each debtor’s tax identification number, as applicable, are as follows: EHT US1, Inc.(6703); 5151 Wiley Post Way, Salt Lake City, LLC (1455); ASAP Cayman Atlanta Hotel LLC (2088); ASAP Cayman Denver Tech LLC (7531); ASAP Cayman Salt Lake City Hotel LLC (7546); ASAP Salt Lake City Hotel, LLC (7146); Atlanta Hotel Holdings, LLC (6450); CI Hospitality Investment, LLC (7641); Eagle Hospitality Real Estate Investment Trust (7734); Eagle Hospitality Trust S1 Pte.UCCONT1, LLC (0463); UCF 1, LLC (6406); UCRDH, LLC (2279); UCHIDH, LLC (6497); Urban Commons 4th Street A, LLC (1768); Urban Commons Anaheim HI, LLC (9915); Urban Commons Bayshore A, LLC (2422); Urban Commons Cordova A, LLC (4152); Urban Commons Danbury A, LLC (4388); Urban Commons Highway 111 A, LLC (4497); Urban Commons Queensway, LLC (6882); Urban Commons Riverside Blvd., A, LLC (4661); and USHIL Holdco Member, LLC (4796).Indeed, in the initial stage of these chapter 11 cases, the Debtors expended considerable time and effort focusing on their transition into chapter 11, including, but not limited to:  stabilizing business operations; seeking and obtaining various forms of first and second-day relief (including contested DIP financing);  negotiating a form of asset purchase agreement with a stalking horse bidder; seeking and obtaining approval of bidding procedures (including obtaining approval of the stalking horse bidder on March 24, 2021);  defending a motion brought by the Debtors’ prepetition lenders, seeking to dismiss the cases of the Singapore Debtors (which motion the Court denied on June 1, 2021);  handling countless operational issues (including responding to creditor concerns and questions); and  obtaining entry of an order setting bar dates for filings proofs of claim in these chapter 11 cases (including the general bar date for July 15, 2021).To the contrary, since then:  the Debtors ran a successful and value maximizing auction on May 20, 2021 regarding the sale of multiple of its hotel properties;  obtained Court approval for the sale of fourteen of the Debtors’ fifteen hotels on May 28, 2021;  closed on those sales during the month of June 2021, with the last closing occurring on June 24, 2021;  analyzed various issues related to the waterfall of the proceeds from such sales and prepared a detailed waterfall analysis (which will be shared with key creditor constituencies as early as next week);  obtained Court approval to reject, effective as of June 4, 2021, the leases related to the Queen Mary hotel (as well as related executory contracts);  initiated avoidance and/or recovery action litigation against EHT Asset Management, LLC, Taylor Woods, and Howard Wu on May 21, 2021, including seeking a preliminary injunction against the defendants and filing a motion for summary judgment;  began the c

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IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE ----------------------------------------------------------x-----: In re: : Chapter 11 : EHT US1, Inc., et al., : Case No. 21-10036 (CSS) : Debtors.1 : (Jointly Administered) : : Hearing Date: September 30, 2021 at 11:00 a.m. (ET) : Obj. Deadline: September 16, 2021 at 4:00 p.m. (ET) ----------------------------------------------------------x DEBTORS’ SECOND MOTION, PURSUANT TO BANKRUPTCY CODE SECTION 1121(d), FOR ORDER EXTENDING PERIODS TO FILE CHAPTER 11 PLAN AND SOLICIT ACCEPTANCES THEREOF EHT US1, Inc. (“EHT”) and its affiliated debtors and debtors in possession (the “Debtors”) submit this motion (the “Motion”) pursuant to section 1121(d) of title 11 of the United States Code (the “Bankruptcy Code”) for entry of an order, substantially in the form attached as Exhibit A, (a) extending the Debtors’ exclusive period under section 1121(c)(2) of the Bankruptcy Code to file a chapter 11 plan by 70 days to October 25, 2021, and (b) extending the Debtors’ exclusive period under section 1121(c)(3) to solicit acceptances of a chapter 11 plan by 70 days to December 27, 2021. In support hereof, the Debtors respectfully state as follows: 1 The Debtors in these chapter 11 cases, along with the last four digits of each debtor’s tax identification number, as applicable, are as follows: EHT US1, Inc.(6703); 5151 Wiley Post Way, Salt Lake City, LLC (1455); ASAP Cayman Atlanta Hotel LLC (2088); ASAP Cayman Denver Tech LLC (7531); ASAP Cayman Salt Lake City Hotel LLC (7546); ASAP Salt Lake City Hotel, LLC (7146); Atlanta Hotel Holdings, LLC (6450); CI Hospitality Investment, LLC (7641); Eagle Hospitality Real Estate Investment Trust (7734); Eagle Hospitality Trust S1 Pte. Ltd. (7669); Eagle Hospitality Trust S2 Pte. Ltd. (7657); EHT Cayman Corp. Ltd. (7656); Sky Harbor Atlanta Northeast, LLC (6846); Sky Harbor Denver Holdco, LLC (6650); Sky Harbor Denver Tech Center, LLC (8303); UCCONT1, LLC (0463); UCF 1, LLC (6406); UCRDH, LLC (2279); UCHIDH, LLC (6497); Urban Commons 4th Street A, LLC (1768); Urban Commons Anaheim HI, LLC (9915); Urban Commons Bayshore A, LLC (2422); Urban Commons Cordova A, LLC (4152); Urban Commons Danbury A, LLC (4388); Urban Commons Highway 111 A, LLC (4497); Urban Commons Queensway, LLC (6882); Urban Commons Riverside Blvd., A, LLC (4661); and USHIL Holdco Member, LLC (4796). The Debtors’ mailing address is 3 Times Square, 9th Floor New York, NY 10036 c/o Alan Tantleff (solely for purposes of notices and communications).

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PRELIMINARY STATEMENT 1. The Debtors commenced these chapter 11 cases less than seven months ago. In the time since, the Debtors and their professionals have worked tirelessly to navigate and negotiate among major stakeholders a feasible and value-maximizing path forward. Indeed, in the initial stage of these chapter 11 cases, the Debtors expended considerable time and effort focusing on their transition into chapter 11, including, but not limited to:  stabilizing business operations; seeking and obtaining various forms of first and second-day relief (including contested DIP financing);  negotiating a form of asset purchase agreement with a stalking horse bidder; seeking and obtaining approval of bidding procedures (including obtaining approval of the stalking horse bidder on March 24, 2021);  defending a motion brought by the Debtors’ prepetition lenders, seeking to dismiss the cases of the Singapore Debtors (which motion the Court denied on June 1, 2021);  handling countless operational issues (including responding to creditor concerns and questions); and  obtaining entry of an order setting bar dates for filings proofs of claim in these chapter 11 cases (including the general bar date for July 15, 2021). 2. Nor has the Debtors’ progress slowed since the Debtors’ first request for a 90-day extension of plan exclusivity on May 17, 2021 (which request the Court granted by order dated June 3, 2021). To the contrary, since then:  the Debtors ran a successful and value maximizing auction on May 20, 2021 regarding the sale of multiple of its hotel properties;  obtained Court approval for the sale of fourteen of the Debtors’ fifteen hotels on May 28, 2021;  closed on those sales during the month of June 2021, with the last closing occurring on June 24, 2021;  analyzed various issues related to the waterfall of the proceeds from such sales and prepared a detailed waterfall analysis (which will be shared with key creditor constituencies as early as next week);

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 obtained Court approval to reject, effective as of June 4, 2021, the leases related to the Queen Mary hotel (as well as related executory contracts);  initiated avoidance and/or recovery action litigation against EHT Asset Management, LLC, Taylor Woods, and Howard Wu on May 21, 2021, including seeking a preliminary injunction against the defendants and filing a motion for summary judgment;  began the claims reconciliation process, including filing the first two omnibus claims objections on July 30, 2021 and August 6, 2021; and  continued to engage in discussions with the official committee of unsecured creditors (the “Committee”) and the agent for the Debtors’ prepetition secured lenders (“Bank of America”) to formulate a chapter 11 plan. Indeed, the Debtors are in the process of preparing a draft plan term sheet that they intend to share with the Committee and Bank of America by mid-September 2021. 3. Accordingly, to preserve the Debtors’ substantial progress in these chapter 11 cases (including the sale process) and to allow for further progress to be made with respect to plan negotiations and the claims reconciliation process, the Debtors seek an extension of the Bankruptcy Code’s exclusive periods for filing and soliciting a chapter 11 plan by 70 days. 4. Specifically, the Debtors seek to extend the period during which they have the exclusive right to propose a chapter 11 plan through and including October 25, 2021, and the period during which they have the exclusive right to solicit a chapter 11 plan through and including December 27, 2021, without prejudice to their rights to seek further extensions of such periods. During that extension period, the Debtors will continue to work in good faith with the Committee and Bank of America towards the formulation of a plan. The Debtors submit that, under the circumstances, this request to extend the Exclusivity Periods2 should be granted. To be clear, the Debtors do not intend to use the full 70-day extension to file a plan; however, it is fairly clear to 2 As defined herein.

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the Debtors at this stage of the plan process that events outside the Debtors’ control may require the Debtors to use the full 70-day plan exclusivity extension. JURISDICTION, VENUE, AND STATUTORY BASES 5. This Court has jurisdiction to consider the Motion under 28 U.S.C. §§ 157 and 1334, and the Amended Standing Order of Reference from the United States District Court for the District of Delaware dated February 29, 2012. This is a core proceeding under 28 U.S.C. § 157(b) and, pursuant to Rule 9013-1(f) of the Local Rules of Bankruptcy Practice and Procedure of the United States Bankruptcy Court for the District of Delaware (the “Local Rules”), the Debtors consent to the entry of a final order by the Court in connection with the Motion to the extent that it is later determined that the Court, absent consent of the parties, cannot enter final orders or judgments consistent with Article III of the United States Constitution. 6. Venue of these chapter 11 cases and the Motion in this District is proper under 28 U.S.C. §§ 1408 and 1409. 7. The statutory predicate for the relief requested herein is section 1121(d) of the Bankruptcy Code. RELEVANT BACKGROUND 8. On January 18, 2021, the Debtors (other than EH-REIT) commenced these chapter 11 cases by filing petitions for relief under chapter 11 of the Bankruptcy Code. EH-REIT commenced its chapter 11 case on January 27, 2021. The Debtors are managing and operating their businesses as debtors in possession pursuant to Bankruptcy Code sections 1107(a) and 1108. These chapter 11 cases are being jointly administered for procedural purposes only pursuant to Rule 1015(b) of the Federal Rules of Bankruptcy Procedure.

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9. On February 4, 2021, the United States Trustee for Region 3 appointed the Committee to serve in these chapter 11 cases. By notice dated February 18, 2021 the U.S. Trustee amended the membership of the Committee.3 10. On March 9, 2021, the Debtors filed the Motion of Debtors for Entry of Orders (I) Approving (A) Bidding Procedures, (B) Designation of Stalking Horse Bidder and Stalking Horse Bidder Protections, (C) Form and Manner of Notice of Sale, Auctions, and Sale Hearing, and (D) Assumption and Assignment Procedures, (II) Scheduling Auctions and Sale Hearing, (III) Approving (A) Sale of Substantially All of Debtors’ Assets Free and Clear of Liens, Claims, Interests, and Encumbrances, and (B) Assumption and Assignment of Executory Contracts and Unexpired Leases, and (IV) Granting Related Relief [Docket No. 334] (the “Sale Motion”). 11. On March 24, 2021, the Court entered an order granting the relief sought in the Sale Motion with respect to approval of the proposed bidding procedures and related relief, including, among other things, approval of the proposed stalking horse bid for substantially all of the Debtors’ assets [Docket No. 495] (the “Bidding Procedures Order”).4 The auction was held on May 20, 20215 and, following a May 28, 2021 sale hearing, the Court entered a series of orders approving the sale of the Debtors’ assets to the various successful bidders.6 These sales closed on various dates in June 2021, with the last such sales closing on June 24, 2021.712. By order dated April 9, 2021, the Court approved July 15, 2021 as the General Bar Date, and July 26, 2021 as the Government Bar Date.8 3 See Docket No. 243. 4 The Court entered an amended order on March 24, 2021. See Docket No. 503. 5 See Debtors’ Notice of (I) Auction Results and Proposed Sale and (II) Provision of Adequate Assurance from Proposed Purchasers [Docket No. 734]. 6 See Docket Nos. 793, 794, 795, and 797. 7 See Docket Nos. 840, 857, and 892. 8 See Docket No. 560.

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13. On May 17, 2021, the Debtors filed their First Motion, Pursuant to Bankruptcy Code Section 1121(d), for Order Extending Periods to File Chapter 11 Plan and Solicit Acceptances Thereof [Docket No. 706] (the “First Exclusivity Period Motion”). By order dated June 3, 2021, the Court granted the First Exclusivity Period Motion, extending the Debtors’ exclusive periods to file and solicit a chapter 11 plan by 90 days through August 16, 2021 and October 18, 2021, respectively.9 RELIEF REQUESTED 14. Section 1121(b) of the Bankruptcy Code provides for an initial period of 120 days after the commencement of a chapter 11 case during which a debtor has the exclusive right to propose and file a chapter 11 plan (the “Filing Period”). Section 1121(c)(3) provides that if a debtor files a plan within the Filing Period, it has a period of 180 days after the commencement of the case to obtain acceptance of such plan, during which time competing plans may not be filed (the “Solicitation Period” and, together with the Filing Period, the “Exclusivity Periods”). Pursuant to section 1121(d) of the Bankruptcy Code, the Court may extend a debtor’s Exclusive Periods for cause shown, provided that the Filing Period may not be extended beyond eighteen months after the commencement of the case and the Solicitation Period may not be extended beyond twenty months after the commencement of the case. 15. The Debtors’ Filing Period and Solicitation Period will expire on August 16, 2021, and October 18, 2021, respectively. Pursuant to section 1121(d) of the Bankruptcy Code, the Debtors request entry of an order extending the Exclusive Periods by 70 days to and including 9 See Docket No. 821.

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October 25, 2021, and December 27, 2021, respectively, without prejudice to the Debtors’ right to seek further extensions of such periods.10 BASIS FOR RELIEF A. Exclusivity Periods May Be Extended for Cause 16. Section 1121(b) of the Bankruptcy Code provides a 120-day period after the commencement of a chapter 11 case during which a debtor has the exclusive right to file a chapter 11 plan. Additionally, section 1121(c)(3) of the Bankruptcy Code provides that if a debtor files a plan within the 120-day exclusive filing period, it has a 180-day period from the petition date to obtain acceptances of its plan. 17. Pursuant to section 1121(d) of the Bankruptcy Code, the Court may extend the Exclusivity Periods “for cause.” The Bankruptcy Code neither defines the term “cause” for purposes of section 1121(d) nor establishes formal criteria for an extension of the Exclusivity Periods. The legislative history of section 1121 of the Bankruptcy Code indicates, however, that “cause” is intended to be a flexible standard to balance the competing interests of a debtor and its creditors. See H.R. Rep. No. 95-595, at 231-32 (1978) (noting that Congress intended to give bankruptcy courts great flexibility to protect a debtor’s interests by allowing a debtor an unimpeded opportunity to negotiate settlement of debts without interference from other parties in interest); see also In re Borders Group, Inc., 460 B.R. 818, 821–22 (Bankr. S.D.N.Y. 2011) (“The determination of cause under section 1121(d) is a fact-specific inquiry and the court has broad discretion in extending or terminating exclusivity.”); First Am. Bank of N.Y. v. Southwest Gloves 10 The Motion is being filed prior to the expiration of the Debtors’ current Exclusivity Periods. Accordingly, such periods are automatically extended until the Court has an opportunity to consider the relief requested in this Motion. See Local Rule 9006-2 (“[I]f a motion to extend the time to take any action is filed before the expiration of the period prescribed by the [Bankruptcy Code, Bankruptcy Rules, Local Rules] or Court order, the time shall automatically be extended until the Court acts on the motion, without the necessity for the entry of a bridge order.”).

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& Safety Equip., Inc., 64 B.R. 963, 965 (D. Del. 1986) (“Section 1121(d) provides the Bankruptcy Court with flexibility to either reduce or increase that period of exclusivity in its discretion.”). 18. Courts often use the following factors in determining whether “cause” exists to extend a debtor’s exclusive plan filing period: i. the size and complexity of the debtor’s case; ii. the necessity for sufficient time to permit the debtor to negotiate a chapter 11 plan and prepare adequate information; iii. the existence of good faith progress towards a plan; iv. the fact that the debtor is paying its bills as they become due;v. whether the debtor has demonstrated reasonable prospects for filing a viable plan; vi. whether the debtor has made progress in negotiations with its creditors;vii. the amount of time which has elapsed in the case; viii. whether the debtor is seeking an extension of exclusivity in order to pressure creditors to submit to the debtor’s demands; and ix. whether an unresolved contingency exists. In re Adelphia Commc’ns Corp., 352 B.R. 578, 587 (Bankr. S.D.N.Y. 2006) (noting that the nine factors listed above are “objective factors which courts historically have considered in making determinations of this character”); see also In re Borders Group, Inc., 460 B.R. at 822 (evaluating the nine factors set forth in Adelphia to hold that debtor established cause to extend exclusivity); accord In re Express One, 194 B.R. 98, 100 (Bankr. E.D. Tex. 1996) (identifying all of the nine factors as relevant in determining whether cause exists to extend exclusivity); In re United Press Int’l, Inc., 60 B.R. 265, 269 (Bankr. D.D.C. 1986) (holding that the debtor showed cause to extend exclusive period based upon certain of the nine factors). 19. Not all factors are relevant to every case, and courts tend to use a relevant subset of the above factors in determining whether cause exists to grant an exclusivity extension in a

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particular chapter 11 case. See, e.g., In re Hoffinger Indus., Inc., 292 B.R. 639, 644 (Bankr. 8th Cir. 2003) (“It is within the discretion of the bankruptcy court to decide which factors are relevant and give the appropriate weight to each.”); In re Serv. Merch. Co., Inc., 256 B.R. 744, 751-54 (Bankr. M.D. Tenn. 2000) (finding cause to extend where the debtors established six of the aforementioned factors); In re Express One, 194 B.R. at 100 (identifying four of the factors as relevant in determining whether “cause” existed to extend exclusivity). B. Cause Exists to Extend the Exclusivity Periods 20. The Debtors submit that all of the relevant factors for determining whether cause exists to extend the Exclusivity Periods have been met in these Chapter 11 Cases. 21. The Debtors’ cases are large and complex. They involve 28 Debtor entities, with over $400 million in outstanding funded debt obligations. Furthermore, while—as explained above—the Debtors have moved expeditiously in these chapter 11 cases and have made great progress, they are not yet in a position to propose a chapter 11 plan due to several unresolved matters. 22. First, the Debtors’ claims reconciliation process is ongoing—and indeed could not begin in earnest prior to the July 15, 2021 General Bar Date. Understanding the claims pool is particularly critical in these chapter 11 cases, as various parties without contractual privity with the Debtors (but instead only with the non-Debtor Master Lessees (which are entities controlled Mr. Woods and Mr. Wu) or other parties) have nevertheless asserted claims against the Debtors. Moreover, various parties, including affiliates of Mr. Woods and Mr. Wu, have filed multi-million dollar claims that the Debtors believe are without merit. 23. Second, the sale process needed to conclude before the Debtors could begin formulating the structure of a chapter 11 plan—and, as noted, the last closings did not occur until

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June 24, 2021. Formulation of a chapter 11 plan is also affected by a variety of gating issues, including the waterfall mechanics and allocation of the sale proceeds among the Debtors and the development of a wind-down budget for EH-REIT. While these issues have not been completely resolved, the Debtors have been substantial progress on these (and other) open issues, and the Debtors are currently preparing a draft plan term sheet that they intend to share with the Committee and Bankr of America by mid-September 2021. 24. At this stage, the Debtors’ principal goal is to make prompt distribution of the net sale proceeds to holders of allowed claims under a confirmed plan. However, some creditors have asserted large multi-million dollar claims against numerous (and, in some instances, all) Debtors on various theories of substantive consolidation and/or veil piercing. The Debtors believe that these types of claims will need to be addressed prior to or as part of plan confirmation, and, thus, filing a simple plan that would merely provide for the pro rata distribution of the sale proceeds for each “PropCo” Debtor may not lead to prompt confirmation of a plan. 25. In light of the foregoing, as well as the current status of the plan discussions, it is simply not practicable to propose a plan before the current expiration of the Debtors’ Exclusivity Period, i.e., August 16, 2021. The current posture of these cases thus necessitates an extension of the exclusive period to file and solicit a plan. 26. In addition, this Motion is a modest request of only 70 days. The Debtors are not seeking to extend the Exclusivity Periods to pressure creditors to accept the Debtors’ demands. To the contrary, the Debtors are working with their creditors to formulate a chapter 11 plan. At this point, the Debtors simply need more time to before they can finalize a plan. 27. In summary, the Debtors satisfy each factor constituting cause for extending the Exclusivity Periods. Accordingly, the Debtors request the Court enter an order extending each of

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the Exclusivity Periods by 70 days, through and including October 25, 2021 and December 27, 2021, respectively. NOTICE 28. Notice of the Motion will be given to: (i) the U.S. Trustee; (ii) counsel to the Committee; (iii) counsel to Bank of America; and (iv) all parties entitled to notice under Local Rule 2002-1(b). The Debtors submit that, under the circumstances, no other or further notice is required. WHEREFORE, the Debtors request the Court grant the Motion and such other and further relief as is just and proper. Dated: August 12, 2021 COLE SCHOTZ P.C. Wilmington, Delaware /s/ G. David Dean Seth Van Aalten (admitted pro hac vice) G. David Dean (No. 6403) Justin R. Alberto (No. 5126) 500 Delaware Avenue, Suite 1410 Wilmington, Delaware 19801 Telephone: (302) 652-3131 Facsimile: (302) 574-2103 Email: svanaalten@coleschotz.com ddean@coleschotz.com jalberto@coleschotz.com - and - PAUL HASTINGS LLP Luc A. Despins (admitted pro hac vice) G. Alexander Bongartz (admitted pro hac vice) 200 Park Avenue New York, New York 10166 Telephone: (212) 318-6000 Facsimile: (212) 319-4090 Email: lucdespins@paulhastings.com alexbongartz@paulhastings.com Counsel toDebtors and Debtors in Possession

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