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

Law360, Wilmington (December 5, 2013, 10:02 PM EST) -- 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, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.