The deputy judge freezes the assets linked to the hotel Ch. 11 Fraud claim

Law360 (Aug 27, 2021, 9:03 p.m. EDT) – Two men who were major investors in a multiple hotel bankruptcy earlier this year were ordered to freeze assets on Friday by the Delaware bankruptcy court in linked to questions about an allegedly fraudulent, $ 2.4 million paycheck protection program loan CARES Act in California.

The order of US bankruptcy judge Christopher S. Sontchi was based in part on the finding that bankruptcy courts can do what district courts cannot, as well as a greater than 50% probability that the cash allegedly received. by Taylor Woods, Howard Wu and EHT Asset Management LLC “dissipate and the plaintiff will not recover” without the freeze and injunction.

The driving…

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