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NOTICE OF FEE STATEMENT OF JEFFERIES & COMPANY, INC. FOR THE PERIOD FROM DECEMBER 1, 2010 THROUGH DECEMBER 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) December 1, 2010 through December 31, 2010
$125,000.00
Amount of expense reimbursement sought as actual, reasonable, necessary: $1,497.86 This is a(n): Monthly Application
This is Jefferies & Company, Inc.s (Jefferies) fourth 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 December 1, 2010 through and including December 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 December 1, 2010 through and including December 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 $1,497.86. 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:
April6, 2011
Leon Szlezinger Managing Director Jefferies & Company, Inc. 520 Madison Avenue, 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: IB7206 Invoice Date: 4/6/2011 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: December 1, 2010 - December 31, 2010 (Less 20% Holdback) Total Fee: Expenses: Data Retrieval Meals Presentation Services Transportation - Ground Total Out-of-Pocket Expenses:
TOTAL DUE
Payment Details Wire Instructions Bank of New York ABA #021000018 A/C: Jefferies & Company, Inc. A/C: #890-065-2772 Reference: INN04100IB_IB7206v Innkeepers Check Payment Instructions Jefferies & Company, Inc. 11100 Santa Monica Blvd. 12th Floor Los Angeles, CA 90025
$101,497.86
EXHIBIT B
Position Managing Director, Recapitalization and Restructuring Group Managing Director, Recapitalization and Restructuring Group
Hours Worked 54.0 13.5 60.5 101.0 59.0 103.5 Total 391.5
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: Data Retrieval Meals Presentation Services Transportation Ground TOTAL $103.44 $288.80 $974.00 $131.62 $1,497.86
BANKER
RUBEN ECHEVARRIA PATRICK T. MORROW PATRICK T. MORROW JOHN D'AMICO PATRICK T. MORROW SUNIL SURI JOHN D'AMICO PATRICK T. MORROW SUNIL SURI SUNIL SURI SUNIL SURI JOHN D'AMICO SUNIL SURI PATRICK T. MORROW PACER SERVICE CENTER PATRICK T. MORROW PATRICK T. MORROW PATRICK T. MORROW TOM HASSELWANDER TOM HASSELWANDER PATRICK T. MORROW ALEX GARCIA PATRICK T. MORROW PATRICK T. MORROW RAYMOND NG TOM HASSELWANDER PATRICK T. MORROW PATRICK T. MORROW ALEX GARCIA ALEX GARCIA LAMAR MYERS NIAMBI WILLIAMS PATRICK T. MORROW NIAMBI WILLIAMS PATRICK T. MORROW RAYMOND NG EUGENE CORLEY LEE ZAKOW TOM HASSELWANDER TOM HASSELWANDER TOM HASSELWANDER NGOZI OKEREKE TOM HASSELWANDER LEE ZAKOW ROLAND SIN
CATEGORY
Meals Meals Meals Meals Meals Meals Meals Meals Meals Meals Meals Meals Meals Transportation - Ground Data Retrieval Meals Meals Transportation - Ground Presentation Services Presentation Services Transportation - Ground Presentation Services Transportation - Ground Transportation - Ground Presentation Services Presentation Services Transportation - Ground Transportation - Ground Presentation Services Presentation Services Presentation Services Presentation Services Transportation - Ground Presentation Services Transportation - Ground Presentation Services Presentation Services Presentation Services Presentation Services Presentation Services Presentation Services Presentation Services Presentation Services Presentation Services Presentation Services
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 Docket Search Charges Weekend OT Meal Overtime Meal OT Taxi- Office to Home Create/Edit Presentation Create/Edit Presentation OT Taxi- Office to Home Create/Edit Presentation OT Taxi- Office to Home OT Taxi- Office to Home Create/Edit Presentation Create/Edit Presentation OT Taxi- Office to Home OT Taxi- Office to Home Create/Edit Presentation Create/Edit Presentation Create/Edit Presentation Create/Edit Presentation OT Taxi- Office to Home Create/Edit Presentation OT Taxi- Office to Home Create/Edit Presentation Create/Edit Presentation Create/Edit Presentation Create/Edit Presentation Create/Edit Presentation Create/Edit Presentation Create/Edit Presentation Create/Edit Presentation Create/Edit Presentation Create/Edit Presentation
DATE 12/6/2010 12/7/2010 12/8/2010 12/8/2010 12/9/2010 12/9/2010 12/10/2010 12/10/2010 12/13/2010 12/14/2010 12/15/2010 12/16/2010 12/27/2010 12/31/2010 1/1/2011 1/2/2011 1/2/2011 1/6/2011 1/7/2011 1/7/2011 1/11/2011 1/12/2011 1/12/2011 1/13/2011 1/14/2011 1/14/2011 1/14/2011 1/17/2011 1/18/2011 1/18/2011 1/18/2011 1/18/2011 1/18/2011 1/19/2011 1/20/2011 1/21/2011 1/22/2011 1/22/2011 1/22/2011 1/22/2011 1/22/2011 1/23/2011 1/28/2011 1/29/2011 1/31/2011
AMOUNT
$20.00 $20.00 $20.00 $20.00 $14.09 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $8.30 $103.44 $17.62 $17.09 $11.90 $72.00 $90.00 $13.20 $90.00 $10.87 $11.10 $8.00 $50.00 $12.70 $39.05 $36.00 $28.00 $68.00 $40.00 $11.70 $26.00 $12.80 $92.00 $40.00 $20.00 $40.00 $68.00 $24.00 $60.00 $42.00 $56.00 $24.00
Total:
$1,497.86
EXHIBIT D
December 1, 2010 - December 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
1.50 2.00 2.00 0.50 1.00 2.50 0.50 2.50 1.00 13.50
Weekly UCC call; various correspondence and discussions Review transaction analysis; discussions re: same Internal discussions re: transaction analysis; review docket and filings Review case related documents and filings Various correspondence and discussions re: Plan process Weekly UCC call; internal discussions ; various correspondence; review weekly presentation Various correspondence and discussions Review of property analysis; internal discussion Review case filings and related documents
December 1, 2010 - December 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 Alexander Rohan
12/1/2010 12/2/2010 12/3/2010 12/6/2010 12/7/2010 12/8/2010 12/9/2010 12/10/2010 12/13/2010 12/14/2010 12/15/2010 12/16/2010 12/17/2010 12/20/2010 12/21/2010 12/27/2010 12/28/2010 12/29/2010 12/30/2010
3.50 6.00 2.00 3.00 3.50 1.50 5.50 3.50 1.50 3.00 4.50 3.50 1.50 2.50 1.50 3.50 4.50 2.50 3.50 60.50
Weekly UCC call; discussions re: transaction and review related analysis; comment on weekly presentation Review transaction analysis and comments/internal discussions re: same; correspondence re: cash forecast Correspondence / internal discussions re: document production Comments to transaction analysis; review and internal discussions re: same Review filings and internal discussions re: same; call with MoFo; review transaction analysis Various correspondence and internal discussions Review filings; comments to transaction analysis; review same Review Debtors' financial analysis; various discussions and correspondence re: same Review filings for omnibus hearing and related discussions; internal discussions and various correspondence Omnibus hearing; discussions re: Plan process Weekly UCC call; comments to weekly presentation; internal discussions and various correspondence; review transaction analysis Various correspondence and internal discussions re: transaction and case Review of transaction documents Comments to analysis re: claims; internal discussions and various correspondence re: same; call with MoFo Correspondence / internal discussions re: transaction documents Review of property analysis; review of selected transaction documents Review of property analysis; review of transaction documents Review claims analysis; internal discussions re: same; review recent filings Review docket and related discussions; discussions re: claims analysis
December 1, 2010 - December 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
12/1/2010 12/2/2010 12/3/2010 12/5/2010 12/6/2010 12/7/2010 12/8/2010 12/9/2010 12/10/2010 12/11/2010 12/13/2010 12/14/2010 12/15/2010 12/16/2010 12/17/2010 12/20/2010 12/27/2010 12/28/2010 12/29/2010 12/30/2010 12/31/2010
11.00 9.00 4.50 8.50 7.00 2.50 4.50 5.50 3.50 2.00 0.50 2.50 1.00 7.50 4.50 3.50 7.50 4.50 3.00 5.50 3.00 101.00
Review/comments to weekly presentation; Weekly UCC call; review Debtors' cash forecast; analysis re: transaction documents Review of case filings; review transaction documents Review transaction documents; internal discussions re: same Review transaction documents Review transaction documents; related analysis; internal discussions re: same Call with MoFo and internal discussions re: transaction; review transaction documents; review docket and circulate filings Review of documents and information book ; analysis re: same; internal discussions re: revised settlement proposal; related analysis Research and document review re: transaction and related analysis; correspondence re: same Analysis re: Plan process; internal discussions re: same; review Moelis model; review plan process update Review industry research reports and perform related analysis Review filings and hearing agenda Preparation for omnibus hearing; update weekly presentation; internal discussions re: same; discussions re: Plan process Weekly UCC call; finalize weekly presentation Various correspondence; research/transaction analysis Review of transaction documents Call with MoFo; internal discussions re: objections and trade claims; related analysis Property analysis; review of transaction documents Review transaction documents; internal discussions re: same; property analysis Continue review of transaction documents; review and discussions re: Alix and Omni claims Review of transaction documents; correspondence with MoFo re: transaction Various correspondence re: flash reports; perform related analysis
December 1, 2010 - December 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 Sunil Suri Sunil Suri
12/1/2010 12/2/2010 12/3/2010 12/4/2010 12/5/2010 12/6/2010 12/7/2010 12/8/2010 12/9/2010 12/10/2010 12/11/2010 12/13/2010 12/14/2010 12/15/2010 12/20/2010 12/21/2010 12/27/2010 12/28/2010
8.00 5.00 3.50 2.00 1.50 7.00 2.50 4.00 4.50 3.50 2.00 4.00 2.50 2.00 0.50 3.00 1.50 2.00 59.00
Update weekly presentation; Weekly UCC call; review Debtors' cash forecast; review transaction documents and related analysis Review transaction documents Review transaction documents Review transaction documents Review transaction documents; related analysis; internal discussions re: same Review transaction documents Call with MoFo and Internal discussions re: transaction; review transaction documents Review of documents and preparation of information book ; analysis re: same; internal discussions re: revised settlement proposal; Research and document review re: transaction and related analysis; correspondence re: same Internal discussions re: Plan process; review Moelis model; review plan process update Review industry research reports and perform related analysis Preparation of weekly presentation Preparation of weekly presentation Weekly UCC call; internal discussions re: same Call with MoFo Review transaction documents Review transaction documents Review transaction documents; internal discussions re: same
December 1, 2010 - December 31, 2010 Summary Hours for Sunil Suri
December 1, 2010 - December 31, 2010 Summary Hours for Patrick Morrow