In addition, certain outstanding sales taxes, lodger’s taxes and tourism improvement district taxes have not been paid and have continued to accrue over certain periods for Holiday Inn Denver East – Stapleton and Renaissance Denver Stapleton since at least December 2019 to the tax authorities of the City and County of Denver.
On Aug 14, Eagle Hospitality Trust’s manager and trustee said they discovered an unauthorised loan application dated May 18, 2020 made under the United States Paycheck Protection Program (PPP) administered by the United States Small Business Administration on behalf of Urban Commons Queensway, which is the master lessor of Queen Mary Long Beach. The manager and trustee also discovered certain Master Lessees’ delinquency to pay outstanding taxes to the relevant tax authorities.
The statement released on SGXnet says that the professional advisers of the manager and trustee “have concluded and are of the view that the Queen Mary PPP Application that was submitted on behalf of the Queen Mary Master Lessor and the receipt of the funds under the Queen Mary PPP Loan were both unauthorised and improper, and they are looking to a rectification and unwinding of the unauthorised loan.”
