Erstwhile Innkeepers Bidder Can't Reap Extra Fees

Law360, New York (August 2, 2011, 9:05 PM EDT) -- A New York bankruptcy judge on Tuesday rejected Five Mile Capital Partners LLC's request for additional fees and expenses connected to the bankruptcy auction of Innkeepers USA Trust, disagreeing that the hedge fund's role in the company's successful $1.2 billion sale entitled it to more money.

U.S. Bankruptcy Judge Shelley C. Chapman denied the application in a ruling from the bench Tuesday for an extra $718,300 in fees and expenses from Five Mile, which is already slated to get $3 million for participating in the May...
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