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

Law360, Wilmington (December 12, 2013, 3:42 PM EST) -- 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...
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