Bankrupt Hotel Staffing Co. Gets OK For $7M DIP

Law360, Wilmington (November 19, 2013, 10:18 PM EST) -- A Delaware bankruptcy judge on Tuesday gave Hospitality Staffing Solutions Group LLC the final nod for a $7 million debtor-in-possession package from its prospective private equity buyer, overruling an objection that the loan was too expensive.

At a hearing in Wilmington, U.S. Bankruptcy Judge Brendan L. Shannon blessed the DIP loan furnished by stalking horse bidder Littlejohn & Co. LLC, rejecting a creditor's argument that HSS was being made to pay fees for money it didn't need.

“I'm not going to revisit or reapportion fees with...
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