On Dec 22, Urban Commons, the erstwhile sponsor of Eagle Hospitality Trust (EHT), said through a press release that a substantial amount of EHT’s cash of around US$25 million “has been spent on professional consultants who are, surprisingly, not collaborating with the sponsor to find a way forward for the benefit of securityholders”. EHT is a stapled security comprising EH-REIT and EH-Business Trust. EH-Business Trust is now dormant but would be activated in the event that SCCPRE Hospitality Management, a unit of SC Group, is voted in as REIT manager, as proposed by DBS Trustee and its consultants Moelis & Company.

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