PE Firms, Innkeepers Trustee Settle $84M Claim Dispute

Law360, New York (March 12, 2012, 5:42 PM EDT) -- Five Mile Capital Real Estate Advisors LLC and Apollo Investment Corp., special servicer and equity holder in the Innkeepers USA Trust bankruptcy, reached an agreement with the trustee Friday to allow Five Mile's $83.9 million claim against Innkeepers parent company Grand Prix Holdings LLC. 

The parties had been fighting in New York bankruptcy court over the distribution of more than $500 million in claims related to Innkeepers' Chapter 11 proceeding, with Five Mile representing the creditors and Apollo the holders of Grand Prix's equity.

After months...
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