Bankrupt Hotel Staffing Co.'s $23M Sale Gets Judge's OK

Law360, Wilmington (December 12, 2013, 3:42 PM ET) -- A Delaware bankruptcy judge gave the nod Thursday to Hospitality Staffing Solutions Group LLC's $23 million sale to an investment group led by private equity firm Littlejohn & Co. LLC over the objection of unsecured creditor AIG Property Casualty Inc., which argued the deal was a “bad faith” transaction.

AIG argued that the sale was engineered to only benefit the buyer — which was part of a group that purchased HSS'  prepetition secured debt the same month it filed for Chapter 11 protection — and included...
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