New Litigation Trustee Appointed For Extended Stay

Law360, New York (August 28, 2012, 4:35 PM EDT) -- A New York bankruptcy judge approved a replacement liquidation trustee Tuesday for hotel chain Extended Stay Inc. along with an amendment to the litigation trust agreement that would allow the new trustee to stop pursuing controversial claims against a group of mezzanine lenders.

U.S. Bankruptcy Judge James M. Peck granted the companion motions following a brief evidentiary hearing at which the new trustee, Finbarr O'Connor of Capstone Advisory Group LLC, testified in an attempt to resolve concerns the judge raised in an Aug. 8 memorandum decision...
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