Innkeepers Faces Resistance To Fried Frank Retention

Law360, New York (November 4, 2010, 5:25 PM EDT) -- Innkeepers USA Trust has met stiff resistance from its secured lenders over the proposed retention of Fried Frank Harris Shriver & Jacobson LLP to advise an independent committee recently set up to offer guidance to the company’s board as it prepares to consider various routes out of bankruptcy.

Secured lenders Midland Loan Services Inc. and Lehman Ali Inc., a subsidiary of Lehman Brothers Holdings Inc., both lodged objections Wednesday to the hotel investment firm’s motion to compensate Fried Frank in the U.S. Bankruptcy Court for the...
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