Hotel Staffing Co.'s Sale Stiffs Unsecured Creditors, AIG Says

Law360, Wilmington (December 05, 2013, 10:02 PM ET) -- AIG Property Casualty Inc. urged a Delaware bankruptcy judge to reject Hospitality Staffing Solutions Group LLC's proposed $22.9 million sale to a private equity firm, claiming Thursday that the deal would unfairly benefit the buyer to the detriment of unsecured creditors.

HSS, the nation's largest hotel employment agency, sought court protection in October after lining up an investment group led by Littlejohn & Co. LLC as a stalking horse bidder for a Chapter 11 sale, but AIG contends Littlejohn's credit bid is improper because it fails...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers