[Levin]

2021/11/16 BY CHRISTOPHER CAILLAVET


Singapore’s Eagle Hospitality Trust could soon make history as the first Singapore REIT to have directors or former directors arrested on two continents, following a US court judgement handed out on Monday.

The US Bankruptcy Court for the District of Delaware has found Howard Wu and Taylor Woods, both former directors of the failed hotel REIT, in contempt for failure to comply with a preliminary injunction that sought to freeze the pair’s assets. Eagle Hospitality Trust effectively collapsed in January of this year when 27 entities linked to its US properties filed for bankruptcy.


https://www.mingtiandi.com/real-estate/f...-contempt/

[sgbuffett]

Fraud. The hotel assets were in US but people behind it were from China

They mark up the assets by 300% of market price then put into the REITs.

The Queen Mary assets is worth zero as it comes with obligation to maintain and fix the ship which will cost hundreds of millions. It was put in the reits as $200M.
Because they could not meet the obligations, the asset was confiscated.

The entire hotel portforlio was worth less than the debt. They collected the IPO and recover all the money they paid for the hotel plus profits.

I had a long thread in the old forum that explained the entire fraud before the company collapsed....and told people to exit.

It's good that the law was broken in US where they are very strick against fraud. Also there is a recovery process that seize the assets of the crooks and liquidate to pay those who were cheated.

[Ola]

Ever heard of Carlton Travel Wagon-lit or Carlton Hotels Worldwide?

They help Hotel owners in India, China, Australia . . . manage their Hotels. So behind these hotels, the Mgmt and Owners are different group of people.

[Levin]

For those interested in the Eagle Hospitality saga, you can read up on the main characters

- Howard Wu
- Taylor Woods
- Salvatore Takoushian

and supporting characters:

- Carl Stubbe
- Cheah Zhou Yue, Joel


at: https://governanceforstakeholders.com/20...w-too-far/

[sgbuffett]

You can read this article by Value Investjng Masterclass Instructor Dr. Chong saying Eagle was a good buy and has "margin of safety" ...

.go below to the comment section in the article you can find my comment that the company is a fraud and I urged the author to correct and warn his readers.

https://www.drwealth.com/a-margin-of-saf...ity-trust/

The author is a masters degree holder and an instructor of investing masterclass yet he can make such an error on analysis by believing the numbers released by the company.

It goes to show integrity of management js still number one in terms of importance.

My final warning to him and his masterclass readers.

[Blasterlord2]

You can read this article by Value Investjng Masterclass Instructor Dr. Chong saying Eagle was a good buy and has "margin of safety" ...

.go below to the comment section in the article you can find my comment that the company is a fraud and I urged the author to correct and warn his readers.

https://www.drwealth.com/a-margin-of-saf...ity-trust/

The author is a masters degree holder and an instructor of investing masterclass yet he can make such an error on analysis by believing the numbers released by the company.

It goes to show integrity of management js still number one in terms of importance.

My final warning to him and his masterclass readers.

Wah, you do detailed analysis for each stock huh? Do you also calculate the intrinsic values of the companies? I read somewhere there're many ways to define intrinsic values so which do you use? Is there something like a free calculator to do all these?