Extended Stay Creditors Tout Rival Starwood Plan

Law360, New York (June 17, 2010, 4:28 PM EDT) -- Extended Stay Hotels LLC’s unsecured creditors have militated against the debtor’s $3.93 billion reorganization plan and are asking the bankruptcy court to make room for a Chapter 11 plan from Starwood Capital Group LLC that adds hundreds of millions of dollars in value to the hotel chain.

The official committee of unsecured creditors urged Judge James M. Peck of the U.S. Bankruptcy Court for the Southern District of New York to terminate Extended Stay’s exclusivity Monday and let Starwood challenge the Chapter 11 plan fronted by...
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