Del. Richter freezes assets tied to Hotel Ch. 11 Fraud Claims

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Law360 (Aug 27, 2021, 9:03 pm EDT) – Two men who were major investors in a multiple hotel bankruptcy earlier this year were found out by the Delaware bankruptcy court on Friday over questions relating to an allegedly fraudulent $ 2.4 An asset freeze arrangement hit million CARES Act Paycheck Protection Program loans in California.

U.S. bankruptcy judge Christopher S. Sontchi’s order was based in part on a determination that bankruptcy courts can do what district courts can’t, and a greater than 50 percent chance that the money Taylor Woods, Howard Wu, and EHT Asset Management LLC allegedly obtained to dissolve and the plaintiff will not recover “without the freeze and injunction.

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