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Full title: Motion to Extend Exclusivity Period for Filing a Chapter 11 Plan and Disclosure Statement Filed by EHT US1, Inc.. Hearing scheduled for 6/8/2021 at 10:00 AM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #6, Wilmington, Delaware. Objections due by 6/1/2021. (Attachments: # 1 Notice of Motion # 2 Exhibit A - Proposed Order) (Dean, G.) (Entered: 05/17/2021)

Document posted on May 16, 2021 in the bankruptcy, 10 pages and 0 tables.

Bankrupt11 Summary (Automatically Generated)

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, since the Petition Date, the Debtors have 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); seeking approval of bidding procedures; defending a motion to dismiss the cases of certain Debtors; handling countless operational issues (including responding to creditor concerns and questions); and addressing various other issues related to maximizing value for all creditors and stakeholders.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. 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”).

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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: June 8, 2021 at 10:00 a.m. (ET) : Obj. Deadline: June 1, 2021 at 4:00 p.m. (ET) ----------------------------------------------------------x DEBTORS’ FIRST 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 90 days to August 16, 2021, and (b) extending the Debtors’ exclusive period under section 1121(c)(3) to solicit acceptances of a chapter 11 plan by 90 days to October 18, 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. A mere four months ago, the Debtors commenced these chapter 11 cases. 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, since the Petition Date, the Debtors have 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); seeking approval of bidding procedures; defending a motion to dismiss the cases of certain Debtors; handling countless operational issues (including responding to creditor concerns and questions); and addressing various other issues related to maximizing value for all creditors and stakeholders. 2. Perhaps most significantly for purposes of this Motion, the Debtors are currently in the midst of a sale process that is expected to culminate in a sale hearing on May 28, 2021 and closings of one or more sales during the month of June 2021. Given that the outcome of this sale process is uncertain (indeed, pursuant to the approved bidding procedures, the Debtors are also entertaining bids proposing to recapitalize or restructure the Debtors), it is practically impossible, at this time, to propose a chapter 11 plan. Indeed, only after the sale process has come to a conclusion, is it possible to properly address issues such as the waterfall and allocation of sale proceeds. Moreover, the bar date2 has not yet passed. While the Debtors are obviously aware of many of their creditors, such as their bank lenders, it is very possible that claims will be asserted by currently unknown third parties—especially under the circumstances here, including the changing ownership of hotel properties in the years prior to the petition date and the prior landlord-2 By order dated April 9, 2021 [Docket No. 560], the Court has set the general bar date for July 15, 2021.

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tenant relationships with respect to these properties. Without a more thorough picture of the universe of claims it is impracticable for the Debtors to formulate a chapter 11 plan. 3. Accordingly, to preserve the Debtors’ substantial progress in these chapter 11 cases and allow the sale process to come to a conclusion, the Debtors seek an extension of the Bankruptcy Code’s exclusive periods for filing and soliciting a chapter 11 plan by 90 days. Specifically, the Debtors seek to extend the period during which they have the exclusive right to propose a chapter 11 plan through and including August 16, 2021, and the period during which they have the exclusive right to solicit a chapter 11 plan through and including October 18, 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 official committee of unsecured creditors towards the formulation of a chapter 11 plan. The Debtors submit that, under the circumstances, this request to extend the Exclusivity Periods3 should be granted. 4. The Debtors have also conferred with the Committee regarding this Motion, and the Committee has informed the Debtors that it supports the relief sought in this Motion. 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 3 As defined herein.

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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. 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. 9. On February 4, 2021, the United States Trustee for Region 3 appointed the Official Committee of Unsecured Creditors of EHT US1, Inc. et al. (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. See Docket No. 243. On March 26, 2021, the Court appointed David M. Klauder, Esq. of Bielli & Klauder, LLC as the Fee Examiner in these chapter 11 cases. See Docket No. 513. 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)

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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”). 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”). 11. Pursuant to the Bidding Procedures Order, an auction is scheduled to be held on May 20, 2021, and a sale hearing is scheduled for May 28, 2021. RELIEF REQUESTED 12. 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. 13. The Debtors’ Filing Period and Solicitation Period will expire on May 18, 2021, and July 19, 2021, respectively.4 Pursuant to section 1121(d) of the Bankruptcy Code, the Debtors 4 Because EH-REIT commenced its case on January 27, 2021, its Filing Period and Solicitation Period will expire on May 27, 2021, and July 26, 2021, respectively. In order to align the timeline for the EH-REIT case with the

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request entry of an order extending the Exclusive Periods by 90 days to and including August 16, 2021, and October 18, 2021, respectively, without prejudice to the Debtors’ right to seek further extensions of such periods.5 This is the Debtors’ first request to extend the Exclusivity Periods. BASIS FOR RELIEF A. Exclusivity Periods May Be Extended for Cause 14. 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. 15. 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 other Debtors’ chapter 11 cases, the Debtors are requesting that the Exclusivity Periods be extended to the same dates. 5 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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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 & 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.”). 16. 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).

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17. 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 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 18. 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. 19. The Debtors’ cases are large and complex. They involve 28 Debtor entities, with over $400 million in outstanding funded debt obligations. 20. Furthermore, while the Debtors have moved as expeditiously as possible in these chapter 11 cases, they are not yet in a position to negotiate and propose a chapter 11 plan. Once many of the significant contingencies in these cases are resolved, including, most notably, the sale process (but also the pending motion to dismiss the chapter 11 cases of the Singapore debtors), the Debtors will be in a position to begin formulating a chapter 11 plan, including the allocation of the proceeds of such sale(s). Nevertheless, the stalking horse bid, and the Debtors’ continued marketing of their assets, demonstrate reasonable prospects for a viable chapter 11 plan. 21. Given the competitive nature of the sale process, the Debtors believe that it is likely that an auction will be held with respect to the sale of some or all of the Debtors’ assets. Given the obvious significance of the sale process to the overall path of the Debtors’ restructuring (and

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the uncertain outcome of this process at this time), it is simply not practicable to propose a chapter 11 plan before the current expiration of the Debtors’ Exclusivity Period to propose a plan, i.e., May 18, 2021. The current posture of these chapter 11 cases thus necessitates an extension of the exclusive period to file and solicit a chapter 11 plan. 22. In addition, this Motion is the Debtors’ first request for an extension of the Exclusivity Periods—and a particularly modest request of only 90 days—and bankruptcy courts regularly grant a debtor’s first request. See In re Apex Pharm., Inc., 203 B.R. 432, 441 (N.D. Ind. 1996) (“It is true that during the initial 120-day period in which debtors have an exclusive right to file a plan of reorganization … the bankruptcy courts apply a lesser standard in determining whether the burden of showing ‘a reasonable possibility of a successful reorganization with a reasonable time has been satisfied.”) (citation omitted); see also In re Borders Grp., Inc., 460 B.R. 812, 825 (Bankr. S.D.N.Y. 2011) (same). The Debtors are not seeking to extend the Exclusivity Periods to pressure creditors to accept the Debtors’ demands. At this point, the Debtors simply need more time to resolve significant contingencies in its cases before it can pursue a chapter 11 plan. One of such contingencies is the fact that the general bar date is not until July 15, 2021, and, absent, a more complete picture of the universe of claims, it is impracticable for the Debtors to formulate a chapter 11 plan. Nor are the Debtors in a precarious cash position. Indeed, the Debtors are paying their bills as they come due. 23. 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 the Exclusivity Periods by 90 days, through and including August 16, 2021 and October 18, 2021, respectively.

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NOTICE 24. Notice of the Motion will be given to: (i) the U.S. Trustee; (ii) counsel to the Committee; and (iii) 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: May 17, 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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