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    United States Bankruptcy Court Southern District of New York

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    Chapter 11 Dockets
    Jefferies & Company, Inc. seeks $125,000 in fees and $2,277.75 in expense reimbursement for financial advisory services provided to the Official Committee of Unsecured Creditors of Innkeepers USA Trust from May 1-31, 2011. This is Jefferies' ninth monthly fee application covering services including attending an auction and bankruptcy hearings, analyzing purchase prices and transaction documents, advising the Committee, and reviewing case filings.

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    United States Bankruptcy Court Southern District of New York

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    Chapter 11 Dockets
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    Jefferies & Company, Inc. seeks $125,000 in fees and $2,277.75 in expense reimbursement for financial advisory services provided to the Official Committee of Unsecured Creditors of Innkeepers USA Trust from May 1-31, 2011. This is Jefferies' ninth monthly fee application covering services including attending an auction and bankruptcy hearings, analyzing purchase prices and transaction documents, advising the Committee, and reviewing case filings.

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    Jefferies & Company, Inc. seeks $125,000 in fees and $2,277.75 in expense reimbursement for financial advisory services provided to the Official Committee of Unsecured Creditors of Innkeepers USA Trust from May 1-31, 2011. This is Jefferies' ninth monthly fee application covering services including attending an auction and bankruptcy hearings, analyzing purchase prices and transaction documents, advising the Committee, and reviewing case filings.

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    Download as PDF, TXT or read online from Scribd
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    28 views14 pages

    United States Bankruptcy Court Southern District of New York

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    Chapter 11 Dockets
    Jefferies & Company, Inc. seeks $125,000 in fees and $2,277.75 in expense reimbursement for financial advisory services provided to the Official Committee of Unsecured Creditors of Innkeepers USA Trust from May 1-31, 2011. This is Jefferies' ninth monthly fee application covering services including attending an auction and bankruptcy hearings, analyzing purchase prices and transaction documents, advising the Committee, and reviewing case filings.

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    of 14

    UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK ------------------------------------------------------------In re: INNKEEPERS USA TRUST, et al., Debtors.

    -------------------------------------------------------------

    X : : Chapter 11 : : Case No. 10-13800 (SCC) : : (Jointly Administered) : X

    NOTICE OF FEE STATEMENT OF JEFFERIES & COMPANY, INC. FOR THE PERIOD FROM MAY 1, 2011 THROUGH MAY 31, 2011

    Name of applicant: Authorized to provide professional services to: Date of retention: Period for which compensation and reimbursement is sought: Amount of compensation sought as actual, reasonable, necessary:

    Jefferies & Company, Inc. (Jefferies) The Official Committee of Unsecured Creditors October 1, 2010 (nunc pro tunc to July 30, 2010) May 1, 2011 through May 31, 2011

    $125,000.00

    Amount of expense reimbursement sought as actual, reasonable, necessary: $2,277.75 This is a(n): Monthly Application

    This is Jefferies & Company, Inc.s (Jefferies) ninth monthly application for compensation and reimbursement of expenses (the Application) as financial advisor to the Official Committee of Unsecured Creditors (the Committee), for the period from May 1, 2011 through and including May 31, 2011.

    This Application is filed pursuant to the Order Authorizing the Establishment of Procedures for Interim Compensation and Reimbursement of Expenses for Professionals and Official Committee Members, dated August 12, 2010 (the Interim Compensation Order). By this Application, which covers the period from May 1, 2011 through and including May 31, 2011, Jefferies requests compensation for fees of $125,000.00, subject to the 20% holdback required by the Interim Compensation Order, and reimbursement of expenses totaling $2,277.75. Notice of this Application will be provided to: (i) the Debtors; (ii) Counsel to the Debtors; (iii) Counsel to the Official Committee of Unsecured Creditors; (iv) Counsel to Midland Loan Services, Inc.; (v) Counsel to Certain Prepetition Lenders (each as defined in the Interim Compensation Order); and (vi) the Office of the United States Trustee for the purpose of reviewing fees and expenses.

    Dated:

    August 18, 2011 Jefferies & Company, Inc.

    In re Innkeepers USA Trust 10-13800 (SCC) Service List Innkeepers USA Trust 340 Poinciana Way, Suite 306 Palm Beach, Florida 33480 Attn: Mark Murphy Kirkland & Ellis LLP Counsel to the Debtors 601 Lexington Avenue New York, NY 10022 Attn: Jennifer Marines, Esq. Kirkland & Ellis LLP Counsel to the Debtors 300 North LaSalle Street Chicago, IL 60654 Attn: Marc J. Carmel, Esq. Morrison & Foerster LLP Counsel to the Official Committee of Unsecured Creditors 1290 Avenue of the Americas New York, NY 10104 Attn: Jordan Wishnew, Esq. Haynes & Boone, LLP Counsel to Midland Loan Service, Inc. 1221 Avenue of the Americas New York, NY 10020 Attn: Lenard M. Parkins, Esq. and John D. Penn, Esq. Bryan Cave LLP Counsel to Certain Prepetition Lenders 1290 Avenue of the Americas New York, NY 10104 Attn: Lawrence P. Gottesman, Esq. Duane Morris LLP One Market Plaza, Spear Tower, Suite 2200 San Francisco, CA 94105 Attn: Phillip K. Wang, Esq. The Office of the U.S. Trustee 33 Whitehall St., Suite 2100, New York, New York 10044 Attn: Paul Schwartzberg, Esq.

    EXHIBIT A

    Jefferies & Company, Inc. 520 Madison Avenue 12th Floor New York, NY 10022

    INVOICE
    Invoice Number: IB7611 Invoice Date: 8/18/2011 Reference #: INN04100IB Terms: Immediate Official Committee of Unsecured Creditors of Innkeepers USA Trust, et al. c/o Morrison & Foerster, LLP 1290 Avenue of the Americas New York, NY 10104-0050 Attention: Keith Venezie Co-Chairman

    For services rendered in accordance with our engagement letter dated September 8, 2010

    Monthly Fee: May 1, 2011 - May 31, 2011 (Less 20% Holdback) Total Fee:

    $125,000.00 ($25,000.00) $100,000.00

    Expenses: Accommodations Meals Printing Services Transportation - Ground Total Out-of-Pocket Expenses: $1,261.83 $217.52 $697.50 $100.90 $2,277.75

    TOTAL DUE
    Payment Details Wire Instructions Bank of New York ABA #021000018 A/C: Jefferies & Company, Inc. A/C: #890-065-2772 Reference: INN04100IB_IB7611 Innkeepers

    $102,277.75

    EXHIBIT B

    Jefferies & Company, Inc.


    Summary of Hours Worked
    May 1, 2011 - May 31, 2011

    Name Leon Szlezinger Frank Merola Alexander Rohan John D'Amico Patrick Morrow

    Position Managing Director, Recapitalization and Restructuring Group Managing Director, Recapitalization and Restructuring Group Sr. Vice President, Recapitalization and Restructuring Group Associate, Recapitalization and Restructuring Group Analyst, Recapitalization and Restructuring Group Total

    Hours Worked 40.5 12.0 55.0 54.0 49.0 210.5

    Other Jefferies professionals who participated but do not keep hours: Justin DeSpirito Legal Counsel

    EXHIBIT C

    Jefferies & Company, Inc.


    Breakdown of Expenses May 1, 2011 May 31, 2011 Exhibit C

    EXPENSES: Accommodations Meals Printing Services Transportation Ground TOTAL $1,261.83 $217.52 $697.50 $100.90 $2,277.75

    BANKER ALEXANDER V ROHAN ALEXANDER V ROHAN LEON SZLEZINGER LEON SZLEZINGER ALEXANDER V ROHAN LEON SZLEZINGER PATRICK T. MORROW LEON SZLEZINGER LEON SZLEZINGER LEON SZLEZINGER LEON SZLEZINGER PATRICK T. MORROW PATRICK T. MORROW JOHN D'AMICO PATRICK T. MORROW HISON MERCEDES PATRICK T. MORROW PATRICK T. MORROW PATRICK T. MORROW PATRICK T. MORROW PATRICK T. MORROW PATRICK T. MORROW PATRICK T. MORROW JOHN D'AMICO PATRICK T. MORROW JOHN D'AMICO PATRICK T. MORROW

    CATEGORY Accommodations Accommodations Accommodations Accommodations Meals Meals Transportation - Ground Accommodations Accommodations Meals Transportation - Ground Meals Transportation - Ground Meals Transportation - Ground Printing Services Transportation - Ground Transportation - Ground Transportation - Ground Meals Transportation - Ground Meals Transportation - Ground Meals Meals Meals Meals

    DESCRIPTION Hotel Tax Hotel Room Hotel Room Hotel Tax Overtime Meal Overtime Meal OT Taxi - Office to Home Hotel Room Hotel Tax Overtime Meal (2 attendees) Taxi - Office to Auction Overtime Meal OT Taxi - Office to Home Overtime Meal OT Taxi - Office to Home Print Client Documents Subway to Disclosure Statement Hearing Subway to Office from Disclosure Statement Hearing OT Taxi - Office to Home Overtime Meal OT Taxi - Office to Home Overtime Meal OT Taxi - Office to Home Overtime Meal Overtime Meal Overtime Meal Overtime Meal

    DATE 5/2/2011 5/2/2011 5/2/2011 5/2/2011 5/2/2011 5/2/2011 5/2/2011 5/3/2011 5/3/2011 5/3/2011 5/3/2011 5/4/2011 5/6/2011 5/6/2011 5/8/2011 5/9/2011 5/10/2011 5/10/2011 5/10/2011 5/10/2011 5/11/2011 5/11/2011 5/13/2011 5/13/2011 5/13/2011 5/15/2011 5/17/2011

    AMOUNT $50.53 $330.50 $329.00 $52.03 $20.00 $11.16 $14.90 $429.00 $70.77 $28.25 $10.00 $20.00 $10.20 $20.00 $11.00 $697.50 $2.25 $2.25 $20.00 $20.00 $16.10 $20.00 $14.20 $20.00 $20.00 $18.11 $20.00

    Total:

    $2,277.75

    EXHIBIT D

    Jefferies & Company, Inc.


    May 2011
    Banker Date Leon Szlezinger Leon Szlezinger 5/2/2011 Leon Szlezinger 5/3/2011 Leon Szlezinger 5/4/2011 Leon Szlezinger 5/5/2011 Leon Szlezinger 5/6/2011 Leon Szlezinger 5/11/2011 Leon Szlezinger 5/12/2011 Leon Szlezinger 5/13/2011 Leon Szlezinger 5/18/2011 Leon Szlezinger 5/23/2011 Leon Szlezinger 5/24/2011 Leon Szlezinger 5/25/2011 Leon Szlezinger 5/26/2011 Leon Szlezinger 5/27/2011 May 2011 Summary Hours for Leon Szlezinger Frank Merola Frank Merola 5/2/2011 Frank Merola 5/3/2011 Frank Merola 5/4/2011 Frank Merola 5/5/2011 Frank Merola 5/10/2011 Frank Merola 5/12/2011 Frank Merola 5/13/2011 Frank Merola 5/18/2011 Frank Merola 5/25/2011 Frank Merola 5/26/2011 May 2011 Summary Hours for Frank Merola Alexander Rohan Alexander Rohan 5/1/2011 Alexander Rohan 5/2/2011 Alexander Rohan 5/3/2011 Alexander Rohan 5/4/2011 Alexander Rohan 5/5/2011 Alexander Rohan 5/9/2011 Alexander Rohan 5/10/2011 Alexander Rohan 5/11/2011 Alexander Rohan 5/12/2011 Alexander Rohan 5/13/2011 Alexander Rohan 5/17/2011 Alexander Rohan 5/18/2011 Alexander Rohan 5/20/2011 Alexander Rohan 5/23/2011 Alexander Rohan 5/25/2011 Alexander Rohan 5/26/2011 Alexander Rohan 5/27/2011 May 2011 Summary Hours for Alexander Rohan John D'Amico John D'Amico 5/1/2011 John D'Amico 5/2/2011 John D'Amico 5/3/2011 John D'Amico 5/4/2011 John D'Amico 5/5/2011 John D'Amico 5/10/2011 John D'Amico 5/11/2011 John D'Amico 5/12/2011 John D'Amico 5/13/2011 John D'Amico 5/17/2011 John D'Amico 5/18/2011 John D'Amico 5/19/2011 John D'Amico 5/20/2011 John D'Amico 5/23/2011 John D'Amico 5/26/2011 May 2011 Summary Hours for John D'Amico Hours 15.50 8.00 2.00 2.00 1.50 1.00 1.00 3.00 2.50 1.00 0.50 1.00 0.50 1.00 40.50 Comments Attend auction; discuss bids; review stipulation; attend meetings and UCC calls Review documents in preparation of auction; attend and participate in auction; meetings and calls re: same Discuss purchase price analysis; Committee call Discussions/correspondence re: auction analysis Review objections and declaration; internal discussions re: same Discussions re: case status and disclosure statement hearing Review filings and prep for hearing; discussions re: case status Attend disclosure statement hearing; related discussions Committee call; discussions re: case status Internal discussions re: case status Review filings Review Plan objection and discuss same; review cash flow forecast and claims objections Review filings and internal discussions Review filings and correspondence w/ counsel re: same

    1.00 1.00 1.50 2.00 0.50 1.00 1.50 2.00 1.00 0.50 12.00

    Review/discuss auction updates Review/discuss auction updates Discuss claims/purchase price analysis; discussions re: case status; Committee call Review/discuss transaction analysis; discussions re: case status Review filings re: disclosure statement hearing Review filings and discussions re: disclosure statement hearing Correspondence re: disclosure statement hearing; discussions re: UCC support letter Committee call; discussions re: case status Review Plan objection and discuss same; review Company cash flow analysis Review filings

    4.00 15.50 8.00 4.00 4.50 2.00 1.00 1.00 1.00 5.00 0.50 2.50 2.00 1.00 1.00 1.00 1.00 55.00

    Preparation for auction Attend and participate in auction; multiple meetings; calls w/ UCC; review auction documents Review documents in preparation of auction; attend and participate in auction; meetings and calls re: same Review auction notes and results; review and discuss purchase price analysis; discussions re: case status; Committee call Review transaction analysis; discussions/correspondence re: same; review filings; discussions re: case status Correspondence w/ counsel and internal discussions Review filings re: disclosure statement hearing; discussions w/ counsel Discussions re: case status and disclosure statement hearing Review filings and prep for hearing; discussions re: case status Attend disclosure statement hearing; discussions re: UCC support letter; correspondence w/ counsel re: waterfall analysis Review cash flow forecast update and variance analysis Committee call; discussions re: case status; review weekly presentation Review revised disclosure statement/plan; internal discussions re: same Internal discussions re: case status Review Plan objection and discuss same; review cash flow forecast and claims objections Review Best Western plan objection and internal discussions Review filings and correspondence w/ counsel re: same

    5.00 15.50 6.00 5.00 3.50 2.50 2.00 1.50 4.00 1.50 2.00 1.50 2.50 1.00 0.50 54.00

    Auction preparation; related discussions and correspondence Attend auction Attend auction; related discussions and correspondence Review purchase price analysis; discuss same; review/comments to weekly presentation; Committee call Review/comments to transaction overview/analysis; extensive discussions re: same Review filings and prep for hearing Attend disclosure statement hearing Review filings and prep for hearing; discussions re: case status Attend disclosure statement hearing; review UCC support letter; discussions w/ counsel re: waterfall analysis Review/comments to weekly presentation; internal discussions re: same; review cash flow forecast update Final comments to weekly presentation; Committee call; discussions re: case status Review disclosure statement adequacy order and discuss same Review filings; review revised disclosure statement plan; internal discussions re: same Internal discussions re: case status Review filings

    Jefferies & Company, Inc.


    May 2011
    Banker Date Patrick Morrow Patrick Morrow 5/1/2011 Patrick Morrow 5/2/2011 Patrick Morrow 5/3/2011 Patrick Morrow 5/4/2011 Patrick Morrow 5/5/2011 Patrick Morrow 5/6/2011 Patrick Morrow 5/9/2011 Patrick Morrow 5/10/2011 Patrick Morrow 5/11/2011 Patrick Morrow 5/12/2011 Patrick Morrow 5/16/2011 Patrick Morrow 5/17/2011 Patrick Morrow 5/18/2011 Patrick Morrow 5/20/2011 Patrick Morrow 5/23/2011 Patrick Morrow 5/24/2011 May 2011 Summary Hours for Patrick Morrow Hours 3.50 3.00 4.00 6.50 5.00 2.00 4.00 2.50 4.50 1.00 5.00 3.50 2.50 0.50 1.00 0.50 49.00 Comments Preparation auction documentation for deal team; discussions re: auction Discussions re: auction and case status; review docket and circulate filings Review auction update; related analysis and discussions; prepare weekly presentation; internal discussions re: case status Purchase price analysis; internal discussions re: same; finalize weekly presentation; discussions and analysis re: same; Committee call Transaction overview/analysis; extensive discussions re: same; review docket and circulate filings Review docket, circulate and summarize objections Review updated Plan/Disclosure Statement; correspondence w/ counsel and internal discussions re: same; related analysis Circulate Plan documents and preparation for hearing; search for selected claim; internal discussions re: same Review transfer/proof of claim report; correspondence w/ counsel re: creditor invoice; internal discussions and call w/ AlixPartners re: same Review docket and circulate hearing agenda and filings; correspondence w/ counsel re: interim fee application Finalize interim fee application and correspondence w/ counsel re: same Preparation of weekly presentation; internal discussions and analysis re: same; correspondence w/ AlixPartners re: cash balance Finalize weekly presentation; Committee call; discussions re: case status Review docket and circulate filings; internal discussions re: same Internal discussions re: case status Review docket and circulate filings

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