On 14th August 2020 (Friday), Eagle Hospitality Trust ("EHT") made another shocking announcement. It appeared that the Sponsor (Urban Commons) of Eagle Hospitality Trust is treating it as a personal ATM machine. Even though Taylor Woods has resigned as director of EHT after the queries by SGX on conflict of interest issue, the ex-director apparently still went on to apply for a US$2Mil worth of loan using the entity name of EHT when he has absolutely no authority to represent EHT.  Strangely, the money borrowed effectively went to the bank account of the Master Lessee held by Urban Commons instead of going to EHT but the liability and legal borrower becomes EHT. Upon the ruse being discovered by the professional consultants of EHT, they sent a legal demand letter to Urban Commons. Urban Commons quickly responded that this incident is an administrative oversight and have informed the lender.

1. Start of a new war of words- Sponsor's side of the story on 12th August 2020 (Wed)

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