Professional Documents
Culture Documents
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NOTICE OF FEE STATEMENT OF JEFFERIES & COMPANY, INC. FOR THE PERIOD FROM OCTOBER 1, 2010 THROUGH OCTOBER 31, 2010
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) October 1, 2010 through October 31, 2010
$125,000.00
Amount of expense reimbursement sought as actual, reasonable, necessary: $3,241.40 This is a(n): Monthly Application
This is Jefferies & Company, Inc.s (Jefferies) second 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 October 1, 2010 through and including October 31, 2010
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 October 1, 2010 through and including October 31, 2010, 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 $3,241.40. 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:
Leon Szleziriger Managing Director Jefferies & Company, Inc. 520 Madison A venue, ih Floor New York, NY 10022 Tel: (212) 323-3918
~~~
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
INVOICE
Jefferies & Company, Inc. 520 Madison Avenue 12th Floor New York, NY 10022
Invoice Number: 8213 Invoice Date: 1/5/2011 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: October 1, 2010 - October 31, 2010 (Less 20% Holdback) Total Fee:
Expenses: Meals Presentation Services Transportation - Ground Total Out-of-Pocket Expenses $685.74 $1,854.00 $701.66 $3,241.40
TOTAL DUE
Payment Details Wire Instructions Bank of New York ABA #021000018 A/C: Jefferies & Company, Inc. A/C: #890-065-2772 Reference: INN04100IB_8213 Innkeepers Check Payment Instructions Jefferies & Company, Inc. 11100 Santa Monica Blvd. 12th Floor Los Angeles, CA 90025
$103,241.40
EXHIBIT B
Position Managing Director, Recapitalization and Restructuring Group Managing Director, Recapitalization and Restructuring Group
Hours Worked 34.0 14.5 48.0 79.5 72.5 102.0 Total 350.5
Alexander Rohan Senior Vice President, Recapitalization and Restructuring Group John D'Amico Sunil Suri Patrick Morrow Associate, Recapitalization and Restructuring Group Associate, Generalist Analyst, Recapitalization and Restructuring Group
Other Jefferies professionals who participated but do not keep hours: Justin Despirito Legal Counsel
EXHIBIT C
EXPENSES: Meals Presentation Services Transportation Ground TOTAL $685.74 $1,854.00 $701.66 $3,241.40
BANKER
PATRICK T. MORROW SCOTT SUBLETT PATRICK T. MORROW SCOTT SUBLETT PATRICK T. MORROW SCOTT SUBLETT SCOTT SUBLETT SCOTT SUBLETT SCOTT SUBLETT JOHN D'AMICO JOHN D'AMICO JOHN D'AMICO SCOTT SUBLETT JOHN D'AMICO JOHN D'AMICO JOHN D'AMICO ALEXANDER V ROHAN SCOTT SUBLETT JOHN D'AMICO JOHN D'AMICO LEON SZLEZINGER JOHN D'AMICO JOHN D'AMICO JOHN D'AMICO JOHN D'AMICO JOHN D'AMICO JOHN D'AMICO LEON SZLEZINGER ALEXANDER V ROHAN JOHN D'AMICO JOHN D'AMICO LEON SZLEZINGER LEON SZLEZINGER CHRISTOPHER VALAZQUEZ JOHN D'AMICO CHRISTOPHER VALAZQUEZ PATRICK T. MORROW SUNIL SURI PATRICK T. MORROW SUNIL SURI JOHN D'AMICO PATRICK T. MORROW SUNIL SURI PATRICK T. MORROW PATRICK T. MORROW JOHN D'AMICO PATRICK T. MORROW SUNIL SURI PATRICK T. MORROW PATRICK T. MORROW PATRICK T. MORROW SUNIL SURI PATRICK T. MORROW
CATEGORY
Meals Meals Meals Meals Meals Meals Meals Meals Meals Meals Meals Meals Meals Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Meals Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Meals Transportation - Ground Presentation Services Meals Presentation Services Meals Meals Meals Meals Transportation - Ground Transportation - Ground Meals Meals Transportation - Ground Meals Meals Meals Transportation - Ground Transportation - Ground Meals Meals Transportation - Ground
DESCRIPTION
Overtime Meal Overtime Meal Overtime Meal Overtime Meal Overtime Meal Overtime Meal Overtime Meal Overtime Meal Overtime Meal Overtime Meal Overtime Meal Overtime Meal Overtime Meal OT Taxi- Office to Home OT Taxi- Office to Home (AM) OT Taxi- Office to Home Car Service- Office to Train Station Overtime Meal OT Taxi- Office to Home (AM) OT Taxi- Office to Home Taxi- Office to Meeting Weekend Taxi- Home to Office Weekend Taxi- Office to Home Return Taxi- Home to Office Return Taxi- Office to Home Weekend Taxi- Home to Office Weekend Taxi- Office to Home OT Car Service- Office to Home OT Car Service- Office to Home OT Taxi- Office to Home OT Taxi- Office to Home Overtime Meal Taxi- Office to Court Create/Edit Presentations Overtime Meal Create/Edit Presentations Overtime Meal Overtime Meal Overtime Meal Overtime Meal OT Taxi- Office to Home OT Taxi- Office to Home Overtime Meal Overtime Meal OT Taxi- Office to Home Overtime Meal Overtime Meal Overtime Meal Weekend Taxi- Office to Home Weekend Taxi- Home to Office Overtime Meal Overtime Meal Weekend Taxi- Office to Home
DATE
8/23/2010 8/24/2010 8/26/2010 8/26/2010 8/27/2010 8/29/2010 8/31/2010 9/1/2010 9/2/2010 9/3/2010 9/6/2010 9/11/2010 9/12/2010 9/20/2010 9/22/2010 9/22/2010 9/23/2010 9/23/2010 9/24/2010 9/24/2010 9/24/2010 9/25/2010 9/25/2010 9/26/2010 9/26/2010 9/26/2010 9/26/2010 9/28/2010 9/28/2010 9/28/2010 9/29/2010 9/30/2010 9/30/2010 10/6/2010 10/8/2010 10/12/2010 10/12/2010 10/12/2010 10/13/2010 10/13/2010 10/14/2010 10/14/2010 10/14/2010 10/14/2010 10/15/2010 10/15/2010 10/15/2010 10/15/2010 10/16/2010 10/16/2010 10/16/2010 10/16/2010 10/17/2010
AMOUNT
$20.00 $20.00 $7.93 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $18.07 $18.11 $20.00 $11.10 $10.70 $10.70 $109.40 $20.00 $10.30 $15.30 $7.00 $10.60 $11.60 $10.70 $10.60 $13.10 $11.40 $109.77 $107.61 $10.88 $12.10 $15.00 $20.00 $478.00 $20.00 $84.00 $20.00 $20.00 $20.00 $20.00 $11.10 $11.50 $20.00 $20.00 $8.70 $20.00 $20.00 $20.00 $12.20 $13.40 $19.65 $20.00 $7.80
BANKER
PATRICK T. MORROW SUNIL SURI SUNIL SURI JOHN D'AMICO JOHN D'AMICO PATRICK T. MORROW PATRICK T. MORROW JOHN D'AMICO PATRICK T. MORROW JOHN D'AMICO PATRICK T. MORROW PATRICK T. MORROW JOHN D'AMICO JOHN D'AMICO JOHN D'AMICO JOHN D'AMICO PATRICK T. MORROW PATRICK T. MORROW PATRICK T. MORROW PATRICK T. MORROW PATRICK T. MORROW AHMED MASTAFA CHRISTOPHER VALAZQUEZ
CATEGORY
Transportation - Ground Meals Meals Transportation - Ground Meals Meals Transportation - Ground Meals Meals Transportation - Ground Transportation - Ground Meals Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Transportation - Ground Meals Transportation - Ground Transportation - Ground Meals Presentation Services Presentation Services
DESCRIPTION
Weekend Taxi- Home to Office Weekend Lunch Weekend Dinner OT Taxi- Office to Home Weekend Lunch Weekend Dinner OT Taxi- Office to Home Overtime Meal Overtime Meal OT Taxi- Office to Home OT Taxi- Office to Home Overtime Meal Weekend Taxi- Home to Office Weekend Taxi- Office to Home OT Taxi- Office to Home OT Taxi- Office to Home OT Taxi- Office to Home Overtime Meal OT Taxi- Office to Home OT Taxi- Office to Home Overtime Meal Create/Edit Presentations Create/Edit Presentations
DATE
10/17/2010 10/17/2010 10/17/2010 10/18/2010 10/18/2010 10/18/2010 10/19/2010 10/19/2010 10/20/2010 10/21/2010 10/22/2010 10/22/2010 10/23/2010 10/23/2010 10/25/2010 10/27/2010 10/28/2010 10/30/2010 11/3/2010 11/4/2010 11/7/2010 11/10/2010 11/12/2010
AMOUNT
$13.40 $18.11 $20.00 $11.10 $20.00 $20.00 $10.70 $20.00 $20.00 $11.50 $17.90 $20.00 $6.60 $7.90 $11.20 $11.30 $11.50 $8.87 $10.30 $10.70 $20.00 $700.00 $592.00
Total:
$3,241.40
EXHIBIT D
Leon Szlezinger 10/14/2010 Leon Szlezinger 10/15/2010 Leon Szlezinger 10/18/2010 Leon Szlezinger 10/19/2010 Leon Szlezinger 10/20/2010 Leon Szlezinger 10/22/2010 Leon Szlezinger 10/25/2010 Leon Szlezinger 10/26/2010 Leon Szlezinger 10/27/2010 Leon Szlezinger 10/28/2010 Leon Szlezinger 10/29/2010 October 1, 2010 - October 31, 2010 Summary Hours for Leon Szlezinger Frank Merola Frank Merola Frank Merola Frank Merola Frank Merola Frank Merola Frank Merola Frank Merola Frank Merola Frank Merola Frank Merola Frank Merola Frank Merola Frank Merola
10/1/2010 10/4/2010 10/7/2010 10/8/2010 10/11/2010 10/13/2010 10/18/2010 10/20/2010 10/22/2010 10/25/2010 10/26/2010 10/27/2010 10/29/2010
1.00 0.50 1.00 1.00 1.00 2.00 2.00 3.00 0.50 0.50 1.00 0.50 0.50 14.50
Review filings and fee procedures; internal discussions and correspondence re: same Internal discussion Professionals' call w/ Moelis re: Plan process; review research and presentation Internal discussions and various correspondence Internal discussions re: Company forecast; review documents re: same; professionals' call Weekly UCC call; internal discussions re: call; various correspondence and discussions Internal discussions re: same; review draft presentation; professionals' call Professionals' call; internal discussions and various correspondence re: recent case news Team discussion re: status and upcoming tasks Various correspondence and discussions Review court filings; team discussion Review Company documents and various correspondence re: same Review docket and related filings; review presentation
October 1, 2010 - October 31, 2010 Summary Hours for Frank Merola Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan Alexander Rohan
10/1/2010 10/4/2010 10/7/2010 10/8/2010 10/11/2010 10/13/2010 10/14/2010 10/15/2010 10/18/2010 10/19/2010 10/20/2010 10/21/2010 10/22/2010 10/25/2010 10/26/2010 10/27/2010 10/28/2010 10/29/2010
1.00 2.00 2.00 2.00 2.50 3.00 4.50 3.00 4.00 2.50 4.00 1.00 0.50 2.00 3.50 5.00 2.50 3.00 48.00
Review filings and fee procedures; internal discussions and correspondence re: same Internal discussion; review filings and related discussions Professionals' call w/ Moelis re: Plan process; update on cash flow forecast Internal discussions regarding weekly UCC call / presentation; various correspondence Review business plan forecast; review documents re: same; review weekly update presentation Weekly UCC call; internal discussions re: call; various correspondence and discussions; review/comments to due diligence request list Call with MoFo; Internal discussions re: industry forecasts / operating performance; review due diligence request list Various correspondence; review documents Internal discussions re: same; review draft presentation; professionals' call Various correspondence; review documents Professionals' call; Review public filings; internal discussions and various correspondence re: recent case news; call w/ Debtors' advisors re: Plan process Review presentation and related discussions; review fee procedures Team discussion re: status and upcoming tasks Various correspondence and discussion regarding Plan process Revise presentation and review court filings; team discussion Review of Company documents and related research; review of due diligence information Review revised forecast and discussions; review of due diligence information and public filings Review court filings; various correspondence with advisors
October 1, 2010 - October 31, 2010 Summary Hours for Alexander Rohan John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico John D'Amico
10/1/2010 10/4/2010 10/5/2010 10/7/2010 10/8/2010 10/10/2010 10/11/2010 10/12/2010 10/13/2010 10/14/2010 10/15/2010 10/16/2010 10/17/2010 10/18/2010 10/19/2010 10/20/2010 10/21/2010 10/22/2010 10/23/2010 10/25/2010 10/26/2010 10/27/2010 10/29/2010
2.50 1.00 1.00 3.00 3.50 2.00 2.00 3.00 7.00 3.00 5.50 7.00 6.00 8.50 1.50 4.00 1.00 0.50 3.00 4.50 3.00 4.00 3.00 79.50
Review filings and fee procedures; internal discussions and correspondence re: same Internal discussion; review documents Call w/ AlixPartners re: cash flow forecast Professionals' call w/ Moelis re: Plan process; review research and perform related analysis Review data room documents; internal discussions and various correspondence Review of cash reporting schedules Professionals' call; internal discussions re: Company forecast; review documents re: same Preparation of due diligence request list Weekly UCC call; internal discussions re: call; review industry research and Company documents and related discussions; prepare due diligence request list Call with MoFo; Team discussions re: same; Review data room information / public filings Review industry research materials; internal discussions re: same; update presentation Work on presentation and related analysis; internal discussions re: same Research, analysis and work on weekly update presentation; internal discussions Review lodging industry research reports and perform related anaylsis; internal discussions; update presentation; professionals' call; review restructuring costs checklist Prepare presentation and related analysis re: Innkeepers research Professionals' call; review public filings; internal discussions and various correspondence re: recent case news; call w/ Debtors' advisors re: Plan process Internal discussion; various correspondence Team discussion re: status and upcoming tasks Review research documents and related analysis Prepare weekly update presentation and related analysis Revise presentation and review court filings; team discussion Review Company documents and related research; call w/ MoFo regarding due diligence information Review docket and related filings; review of data room information; due diligence
October 1, 2010 - October 31, 2010 Summary Hours for John D'Amico
Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri Sunil Suri
10/1/2010 10/4/2010 10/5/2010 10/7/2010 10/8/2010 10/10/2010 10/11/2010 10/12/2010 10/13/2010 10/14/2010 10/15/2010 10/16/2010 10/17/2010 10/18/2010 10/19/2010 10/20/2010
1.00 2.00 1.00 2.00 7.00 2.00 3.00 2.50 5.00 2.00 2.00 5.50 6.50 8.50 2.50 4.50 4.50 2.50 2.00 4.50 2.00 72.50 2.50 2.00 1.00 5.50 5.00 7.00 4.50 2.50 4.00 6.00 5.50 4.00 9.00 8.00 2.50 7.50 4.00 0.50 4.00 3.00 4.00 3.00 5.00 2.00 102.00
Sunil Suri 10/21/2010 Sunil Suri 10/22/2010 Sunil Suri 10/25/2010 Sunil Suri 10/27/2010 Sunil Suri 10/29/2010 October 1, 2010 - October 31, 2010 Summary Hours for Sunil Suri Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow Patrick Morrow 10/1/2010 10/4/2010 10/5/2010 10/7/2010 10/8/2010 10/10/2010 10/11/2010 10/12/2010 10/13/2010 10/14/2010 10/15/2010 10/16/2010 10/17/2010 10/18/2010 10/19/2010 10/20/2010
Review filings and fee procedures; internal discussions Internal discussion; analysis re: company/industry forecasts Call w/ AlixPartners re: cash flow forecast; review of 13 week forecast Call w/ Moelis re: Plan process; research and analysis Review data room documents; internal discussions and various correspondence Review of cash reporting schedules and related analysis Internal discussions re: Company forecast; review documents re: same; weekly professionals' call Review industry research; final comments to weekly presentation Weekly UCC call; internal discussions re: call; analysis re: company forecasts; preparation of due diligence request list Call with MoFo; team discussions re: same; review company/industry forecasts and analysis Review real estate industry index; internal discussions re: same; comments to presentation Work on presentation and related analysis; internal discussions re: same Research, analysis and work on presentation; internal discussions re: same Review industry research reports and discussions re: same; draft additional materials for presentation; professionals' call Prepare presentation and related analysis re: Innkeepers research Professionals' call; review company filings and discussions re: same; call re: Plan process; review of industry information Revise presentation and related discussions Team discussion re: status and upcoming tasks Review court documents Review dataroom documents and industry research; call w/ MoFo Review industry resources for preparation of weekly presentation
Review filings and fee procedures; internal discussions and correspondence re: same Internal discussion; review docket and data room information Call w/ AlixPartners re: cash flow forecast; review 13 week forecast Professionals' call w/ Moelis re: Plan process; review industry research and perform related analysis Review data room documents; internal discussions and various correspondence Review of cash reporting schedules; prepration of weekly update presentation Internal discussions re: weekly update presentation; review documents re: same; weekly professionals' call; preparation of weekly update presentation Review industry research and relevant documents; finalize weekly presentation Weekly UCC call; internal discussions re: call; review industry research and Company documents and related discussions; prepare due diligence request list Call with MoFo; team discussions re: same; review company/industry forecasts and analysis Review real estate industry index; internal discussions re: same; update presentation Presentation updates and review of data room documents Research, analysis and work on weekly update presentation Review lodging industry research reports and perform related anaylsis; internal discussions re: same; update weekly presentation; professionals' call; review restructuring cost analysis Prepare presentation and related analysis re: Innkeepers research Professionals' call; Review public filings; internal discussions and various correspondence re: recent case news; call re: Plan process Review fee procedures and initial preparation of fee application Team discussion re: status and upcoming tasks Prepare weekly update presentation and related analysis; review docket; circulate relevant filings; preparation for Revise presentation and review court filings; team discussion re: presentation changes Review Company documents and related research; call with MoFo Review revised forecast and discussions re: same; updates to presentation Review docket and related filings; analysis of property information
Patrick Morrow 10/21/2010 Patrick Morrow 10/22/2010 Patrick Morrow 10/25/2010 Patrick Morrow 10/26/2010 Patrick Morrow 10/27/2010 Patrick Morrow 10/28/2010 Patrick Morrow 10/29/2010 Patrick Morrow 10/30/2010 October 1, 2010 - October 31, 2010 Summary Hours for Patrick Morrow