10000004548

Objection Deadline: June 6, 2011 at 4:00 p.m.
(EST)
MORRISON & FOERSTER LLP
1290 Avenue of the Americas
New York, New York 10104
Telephone: (212) 468-8000
Facsimile: (212) 468-7900
Brett H. Miller
Lorenzo Marinuzzi
Jordan A. Wishnew
Attorneys for the Official Committee of
Unsecured Creditors of Innkeepers USA Trust, eta!.
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
In re
Innkeepers USA Trust, et al.,
Debtors.
)
) Chapter II
)
) 10-13800 (SCC)
)
) Jointly Administered
____________________________ )
MONTHLY APPLICATION OF MORRISON & FOERSTER LLP FOR
COMPENSATION FOR SERVICES AND REIMBURSEMENT OF EXPENSES AS
ATTORNEYS FOR THE OFFICIAL COMMITTEE OF UNSECURED CREDITORS
FOR THE PERIOD FROM MARCH 1, 2011 THROUGH MARCH 31, 2011
Name of Applicant: Morrison & Foerster LLP
Authorized to Provide Professional Services to: The Official Committee of Unsecured
Creditors of Innkeepers USA Trust, eta!.
Date of Retention: Order entered on September I, 2010 retaining
Morrison & Foerster LLP, nunc pro tunc to
July 28, 2010
Period for which compensation and March 1, 2011 through March 31, 2011
reimbursement is sought:
Amount of Compensation sought as actual and $148,883.00
necessary:
Arriount of Expense Reimbursement sought as $2,654.87
actual and necessary:
ny-971912
This is Morrison & Foerster's eighth monthly application for compensation (the
"Application") filed pursuant to the Order Authorizing the Establishment of Procedures for
Interim Compensation and Reimbursement of Expenses for Professionals and Official Committee
Members [Docket No. 189] (the "Interim Compensation Order"). Morrison & Foerster requests:
(a) payment of compensation in the amount of$119,1 06.40 (which is 80% of $148,883.00) on
account of actual and necessary professional services rendered to the Official Committee of
Unsecured Creditors to the above-captioned debtors (the "Committee") by Morrison & Foerster;
and (b) reimbursement of actual and necessary costs and expenses in the amount of $2,654.87
incurred by Morrison & Foerster during the period from March 1, 2011 through March 31,2011
(the "Fee Period").
The Morrison & Foerster attorneys and paraprofessionals who rendered services in the
above-captioned chapter 11 cases (the "Chapter 11 Cases") during the Fee Period are:
Licensure:
Stephen P. Koshgerian Department: $380 13.9 $5,282.00
Licensure:
Stacy L. Malison Department: Bankruptcy $500 13.7 $6,850.00
Licensure: NY
Leah A. Ramos Department: Litigation $640 10.0 $6,400.00
Licensure: NY
Erica J. Richards 5.9 $3,245.00
Department: 33.6 176.00
Licensure:
Guido
Douglas Keeton Department: Bankruptcy $225 3.3 $742.50
ny-971912
2
Totlils
.
Blended Rate Total Total
I<
. .... < ..
.
..
.
Hours Billed Compensation
Total Fees Incurred $673.68 221.0 $148,883.00
Compensation by Matter
2.6
Case Administration 8.0
005 Claims Administration and Objections 12.3
007 Fee/Employment 11.8
008 Objections 3.0 $2,253.50
009 Financing 3.3 $2,380.50
010 Meetings of Creditors
013 Hearings 31.1 $20,202.50
016 Communication with Creditors
022 2007 Trasnx. Invest.
Totals 221.0 $148,883.00
Expense Summary
Meals
Reporting Fees
Transportation
Total
ny-971912
3
Notice
Morrison & Foerster provided notice of this Application to: (a) the Debtors; (b) counsel
to the Debtors; (c) the Office of the United States Trustee for the Southern District of New York;
(d) counsel to Midland Loan Services, a division ofPNC Bank, N.A.; and (e) counsel to Certain
Prepetition Lenders (each as defined in the Interim Compensation Order). In light of the nature
of the relief requested, Morrison & Foerster respectfully submits that no further notice is
necessary.
WHEREFORE, pursuant to the Interim Compensation Order, Morrison & Foerster
requests: (a) payment of compensation in the amount of$119,106.40 (which is 80% of
$148,883.00) in fees on account of actual and necessary professional services rendered to the
Committee by Morrison & Foerster; and (b) reimbursement of actual and necessary costs and
expenses in the amount of$2,654.87.
Dated: May 5, 2011
New York, New York
ny-971912
4
Is/ Lorenzo Marinuzzi
Brett Miller
Lorenzo Marinuzzi
Jordan A. Wishnew
1290 Avenue of the Americas
New York, New York 10104
Telephone: (212) 468-8000
Facsimile: (212) 468-7900
Attorneys for the Official Committee of
Unsecured Creditors of Innkeepers USA
Trust, et al.
MORRISON I FOERSTER
Innkeepers USA Trust
340 Royal Poinciana Way
Suite 306
Palm Beach, FL 33480
Attention: Mark Murphy
Client Contact: Mark Murphy
RE: RESTRUCTURING
FILE NO. 72497
P.O. BOX 60000
SAN FRANCISCO
CALIFORNiA 94160-2497
TELEPHONE: 415.268.7000
FACSIMILE: 415.268.7522
WWW.MOFO.COM
NEW YORK, SAN I'RANCISCO,
LOS ANGELES, PALO ALJO
SAN DIEGO, WA$HINGTOt-:, D.C.
DENVER, NORTHERN VIRGINIA,
SACRAML!N'J'O, WALNUT CREEK,
TOKYO, LONDON, BEIJING,
SHANGHAI, HONG KONG,
BRUSSELS
Taxpayer ID ~
Invoice N u m b e ~
Invoice Date: May 5, 201 I
Client/Matter Number: 066923-0000001
Matter Name: RESTRUCTURING
For Professional Services Rendered and Disbursements Incurred through March 31, 20 II
Current Fees
Current Disbursements
Total This Invoice
Payment may be made by Electronic Funds transfer to the firm's account
U.S.Dollars
148,883.00
2,654.87
151,537.87
MORRISON I FOERSTER
066923-000000 I
RESTRUCfURING
Time Detail
Date Services
ASSET DISPOSITION/SALES
09-Mar-2011 Analysis of claims/asset values associated with seven
remaining properties and parent debtors.
14-Mar-2011 Evaluate claims and values of entities associated with
seven remaining properties.
15-Mar-2011 Review with Jefferies invite from Moelis for discussion
on sale status, existing offers.
17-Mar-2011 Participation in conference call with Moelis regarding
auction process (.6); review and analysis of current
proposals (1.0).
17-Mar-2011 Review Moelis presentation on sales (.5); telephone call
with Moelis to review sale status (.6); telephone call with
Jefferies to review sale status (.5).
18-Mar-20 II Review bid summary for all properties.
22-Mar-20 11 Telephone call with B. Lennon (K&E) regarding sale
status update (.5); telephone call with V. Indelicato
(Dewey) regarding sale proposals and DIP funding on
seven remaining properties (.4).
25-Mar-2011 Review offer letter on four hotel properties.
28-Mar-2011 Telephone call with V. Indelicato (Dewey) regarding
sale of properties and plan proposals (. 7); telephone call
with B. Lennon (K&E) regarding status of hotel offers
and Anaheim disposition (.7).
31-Mar-2011 Telephone call with B. Lennon (K&E) regarding sale
status, next steps (.6); memo to Jefferies regarding
sale/claim status (.3).
Total: 002 ASSET DISPOSITION/SALES
BUSINESS OPERATIONS AND ADVICE
01-Mar-2011 Review and analysis ofD&O policy issues.
02-Mar-2011 Review Hilton letter alleging default in quality standards.
15-Mar-2011 Review Alix Partners cash report.
23-Mar-20 II Review Jefferies presentation on cash balances and sale
process overview and negotiation points.
31-Mar-2011 Review corporate structure and equity holdings to assess
flow of funds in sale of seven remaining properties.
Total: 003 BUSINESS OPERATIONS AND ADVICE
CASE ADMINISTRATION
2
Invoice Number: 5027697
Invoice Date: May 5, 20 II
TimekeeEer Hours
Marinuzzi, Lorenzo 0.90
Engelhardt, Stefan W. 1.60
Wishnew, Jordan A. 0.20
9.10
Engelhardt, Stefan W. 0.70
2.60
Value
715.50
636.00
397.50
1,256.00
1,272.00
132.00
715.50
238.50
1,113.00
715.50
7,191.50
549.50
159.00
318.00
318.00
715.50
2,060.00
MORRISON
I
FOERSTER
066923-0000001 Invoice Number: 5027697
RESTRUCTURING Invoice Date: May 5, 201 I
Date Services Timekeeper Hours Value
01-Mar-20II Review ECF docket for updated filings (.I); provide Guido, Laura 0.20 52.00
calendar updates regarding same (.1).
02-Mar-2011 Review ECF docket for updated filings (.I); provide Guido, Laura 0.30 78.00
03-Mar-20 11 Review ECF docket for updated filings (.I); provide Guido, Laura 0.20 52.00
calendar updates regarding same (.1 ).
04-Mar-2011 Review ECF docket for updated filings (.I); provide Guido, Laura 0.20 52.00
07-Mar-2011 Review ECF docket for updated filings (.1 ); provide Keeton, Douglas 0.20 45.00
08-Mar-2011 Review ECF docket for updated filings (.1); provide Guido, Laura 0.20 52.00
calendar updates regarding same ( 1 ).
10-Mar-2011 Review ECF docket for updated filings (.1 ); provide Guido, Laura 0.60 156.00
calendar updates regarding same (.1 ); update case files
(.4).
calendar updates regarding same (.1); coordinate receipt
of hearing transcripts (.2).
14-Mar-20 11 Review ECF docket for updated filings (.1 ); provide Guido, Laura 2.00 520.00
calendar updates regarding same (.1 ); update binder of
case orders (1.8).
23-Mar-2011 Review ECF docket for updated filings (.1); provide Keeton, Douglas 0.20 45.00
23-Mar-20 11 Further review Midland fee objections (.2); email to L. Malison, Stacy L. 0.40 200.00
Marinuzzi regarding amounts payable by Debtors
1
estates
(.2).
24-Mar-2011 Review ECF docket for updated filings (.1); provide Keeton, Douglas 0.20 45.00
3
MORRISON I FOERSTER
066923-0000001
RESTRUCTURING
Invoice Date: May 5, 20 I I
Date Services
25-Mar-201 I Review ECF docket for updated filings(. I); provide
28-Mar-201 I Review ECF docket for updated filings(.!); provide
29-Mar-2011 Review ECF docket for updated filings(.!); provide
Total: 004 CASE ADMINISTRATION
CLAIMS ADMINISTRATION AND OBJECTIONS
Timekeeper
Guido, Laura
Guido, Laura
Guido, Laura
Guido, Laura
Guido, Laura
03-Mar-2011 Review claims analysis and breakdown of expected Marinuzzi, Lorenzo
claims by entity.
03-Mar-20 II Research claims filed by certain unsecured creditors. Malison, Stacy L.
03-Mar-2011 Review claims universe and disbursement of claims Wishnew, Jordan A.
across Debtors.
07-Mar-2011 Address Triangle Renovations' claim inquiries (.2); Wishnew, Jordan A.
follow up with J. D'Amico (Jefferies) concerning claim
dilution(.!).
16-Mar-2011 Review claims objection procedures. Marinuzzi, Lorenzo
16-Mar-2011 Review and analyze Debtors' motion to establish Malison, Stacy L.
omnibus objection procedures (.9); prepare
memorandum for Committee summarizing same (1.1).
16-Mar-2011 Review omnibus claims objection procedures motion. Wishnew, Jordan A.
17-Mar-2011 Review Jefferies report on claims in asset pools. Marinuzzi, Lorenzo
17-Mar-2011 Review and revise summary ofDebtors' motion to Malison, Stacy L.
establish omnibus objection procedures.
17-Mar-2011 Review and revise procedures summary for Committee Wishnew, Jordan A.
(.4); review claims filed by Committee members(.!);
review Fixed/Floating summary and provide to JMC
Global (.2).
18-Mar-2011 Review and revise summary of claims objection process Marinuzzi, Lorenzo
for Committee distribution.
18-Mar-2011 Review Debtors' claims registry for claims filed by Malison, Stacy L.
Committee members and prepare spreadsheet regarding
same (1.7); review same with J. Wishnew (.3).
18-Mar-2011 Review Debtors' claims registry with S. Malison. Wishnew, Jordan A.
23-Mar-20 II Telephone call with T. Schwartz (K&E) regarding claims Marinuzzi, Lorenzo
analysis at seven properties (.5); review files regarding
status of claims at seven remaining property entities (.4).
4
Hours
0.30
0.20
0.20
0.30
0.20
8.00
0.70
0.40
0.20
0.30
0.50
2.00
0.20
0.60
0.30
0.70
0.40
2.00
0.30
0.90
Value
78.00
52.00
52.00
78.00
52.00
2,155.00
556.50
200.00
132.00
198.00
397.50
1,000.00
132.00
477.00
150.00
462.00
318.00
1,000.00
198.00
715.50
MORRISON
I
FOERSTER
066923-000000 I Invoice Number: 5027697
RESTRUCTURING Invoice Date: May 5, 2011
23-Mar-2011 Address query regarding claims and case status. Wishnew, Jordan A. 0.20 132.00
29-Mar-2011 Review first and second omnibus claims objections. Wishnew, Jordan A. 0.20 132.00
30-Mar-20I I Review and analyze first and secof!d omnibus objections Koshgerian, Stephen P. 0.60 228.00
to claims for Committee member inclusion.
30-Mar-2011 Review omnibus claims objections (.5); correspondence Marinuzzi, Lorenzo 0.70 556.50
to/from B. Lennon (K&E) regarding claims objections
(.2).
30-Mar-2011 Address Ontario and Anaheim claims issues with J. Wishnew, Jordan A. 0.30 198.00
D'Amico (Jefferies).
31-Mar-2011 Review claims analysis for seven remaining properties Marinuzzi, Lorenzo 0.80 636.00
(.6); compare to prior estimates (.2).
Total: 005 CLAIMS ADMINISTRATION AND OBJECTIONS 12.30 7,819.00
FEE/EMPLOYMENT APPLICATIONS
0 1-Mar-20 11 Review K&E's January fee application for time billed to Guido, Laura 0.30 78.00
specific issues.
01-Mar-2011 Analyze and revise January fee application and notice. Koshgerian, Stephen P. 0.50 190.00
02-Mar-2011 Update January fee application (.8); review same with S. Guido, Laura 1.10 286.00
Koshgerian (.3).
02-Mar-20 II Review January fee application and next steps with L. Koshgerian, Stephen P. 0.30 I 14.00
Guido.
02-Mar-2011 Review and comment on notice and application with Malison, Stacy L. 0.50 250.00
respect to MoFo's January fees.
04-Mar-2011 Final revisions to fee application and prepare same for Guido, Laura I.40 364.00
filing (1.0); electronically file and coordinate service of
same (.4).
04-Mar-2011 Finalize January fee application and notice. Koshgerian, Stephen P. 0.70 266.00
04-Mar-2011 Assist with finalizing monthly fee application. Wishnew, Jordan A. 0.20 132.00
08-Mar-201 I File affidavit of service for MoFo's January fee Guido, Laura 0.20 52.00
application.
17-Mar-20I I Begin drafting notice and application for February fee Koshgerian, Stephen P. 0.40 152.00
statement.
18-Mar-2011 Continue drafting notice and application for February fee Koshgerian, Stephen P. 1.50 570.00
statement.
22-Mar-2011 Continue drafting notice and application for February Koshgerian, Stephen P. 2.20 836.00
fees.
24-Mar-20 11 Update notice and application for February fees. Keeton, Douglas 0.70 I57.50
24-Mar-20 II Review February fee application (.2); telephone Wishnew, Jordan A. 0.50 330.00
conversation with J. Penn (Midland) about interim fee
objections (.3).
5
MORRISON
I
FOERSTER
066923-000000 I Invoice Number: 5027697
28-Mar-2011 Review and confirm draft interim fee order for accuracy. Guido, Laura 0.30 78.00
28-Mar-2011 Review proposed fonn of interim fee order. Wishnew, Jordan A. 0.30 198.00
30-Mar-2011 Review revised fee order (.3); correspondence and call Marinuzzi, Lorenzo 0.50 397.50
with J. Zinman (K&E) regarding same (.2).
31-Mar-20 II Finalize notice and fee application for February fee Koshgerian, Stephen P. 0.20 76.00
period.
Total: 007 FEE/EMPLOYMENT APPLICATIONS 11.80 4,527.00
FEE/EMPLOYMENT OBJECTIONS
16-Mar-2011 Discussion with Jefferies regarding US Trustee objection Marinuzzi, Lorenzo 0.70 556.50
(.4); correspondence to/from P. Schwartzberg (US
Trustee) regarding Jefferies fee objection (.3).
18-Mar-2011 Review Midland objections/reservations of right on all Marinuzzi, Lorenzo 0.50 397.50
professional fees.
18-Mar-2011 Review Midland's objection to monthly fee application. Wishnew, Jordan A. 0.10 66.00
22-Mar-2011 Further review Midland fee objections (.2); email to L. Malison, Stacy L. 0.40 200.00
Marinuzzi regarding amounts payable by Debtors' estates
(.2).
24-Mar-20 II Telephone call with J. Penn (Midland) regarding status Marinuzzi, Lorenzo 0.80 636.00
of Midland objection (.4); telephone call with B. Lennon
(K&E) regarding fee hearing and objection (.4).
25-Mar-2011 Telephone call and correspondence with B. Lennon Marinuzzi, Lorenzo 0.50 397.50
(K&E) and J. Penn (Midland) regarding fee hearing.
Total: 008 FEE/EMPLOYMENT OBJECTIONS 3.00 2,253.50
FINANCING
09-Mar-2011 Review updated term sheet and modification to cash Wishnew, Jordan A. 0.60 396.00
collateral order.
21-Mar-2011 Telephone calls and correspondence to counsel for LNR Marinuzzi, Lorenzo 0.50 397.50
and CW regarding extension of challenge period under
cash collateral order.
21-Mar-2011 Prepare fifth stipulation extending challenge period as to Wishnew, Jordan A. 0.40 264.00
LNR I CW challenge.
22-Mar-2011 Review and revise draft stipulation extending cash Marinuzzi, Lorenzo 0.60 477.00
collateral period.
22-Mar-2011 Revise challenge stipulation and provide to lenders' Wishnew, Jordan A. 0.50 330.00
counsel.
24-Mar-2011 Finalize stipulation on extension of challenge period. Marinuzzi, Lorenzo 0.40 318.00
24-Mar-2011 Confer with M. McMahon (LNR) and Debtors' counsel Wishnew, Jordan A. 0.30 198.00
on terms of challenge extension stipulation.
Total: 009 FINANCING 3.30 2,380.50
6
MORRISON
I
FOERSTER
066923-0000001 Invoice Number: 5027697
MEETINGS OF CREDITORS
01-Mar-2011 Prepare and circulate correspondence to Committee Molison, Stacy L. 0.20 100.00
regarding cancellation of March 2 Committee call.
01-Mar-2011 E-mail with K. Venezie (Eric Ryan) about cancelling Wishnew, Jordan A. 0.20 132.00
weekly Committee call.
03-Mar-20 II Preparation for Committee call (.3); participation in Engelhardt, Stefan W. 1.40 1,099.00
Committee call, including call with Debtors'
representatives ( 1.1 ).
03-Mar-2011 Lead Committee call on structuring settlement proposal. Marinuzzi, Lorenzo 1.30 1,033.50
03-Mar-2011 Participate in portion of conference call with Committee Molison, Stacy L. 1.90 950.00
members and Debtors regarding settlement in
conjunction with bidding procedures (.8); draft minutes
with respect to same (1.1).
07-Mar-2011 E-mail correspondence with K. Venezie (Eric Ryan) Wishnew, Jordan A. 0.40 264.00
about conducting weekly Creditors' Committee call (.2);
prepare e-mail to Committee cancelling weekly call (.2).
15-Mar-2011 Review and revise minutes from February 23 and March Molison, Stacy L. 0.40 200.00
3 Committee conference calls.
15-Mar-2011 Prepare Agenda for weekly Committee meeting and Wishnew, Jordan A. 0.60 396.00
revise minutes from earlier meetings (.5); revise e-mail
to Committee (.I).
21-Mar-2011 Prepare agenda for Innkeepers Committee conference Molison, Stacy L. 0.40 200.00
call (.3); circulate same to Committee members (.1 ).
21-Mar-2011 Distribute agenda for weekly meeting to Committee. Wishnew, Jordan A. 0.20 132.00
22-Mar-2011 Review materials for weekly Committee meeting. Wishnew, Jordan A. 0.30 198.00
23-Mar-2011 Correspondence to/from J. Wishnew regarding matters Marinuzzi, Lorenzo 0.40 318.00
for Committee call of March 23.
23-Mar-20 II Participate in Committee conference call regarding case Molison, Stacy L. 0.80 400.00
status (.4); draft minutes regarding same (.4).
23-Mar-2011 Review materials (.I) and lead weekly Committee call Wishnew, Jordan A. 0.50 330.00
regarding case status and claim objections procedures
(.4).
28-Mar-2011 Review matters for Committee update and assess need Marinuzzi, Lorenzo 0.50 397.50
for weekly call.
28-Mar-2011 Confirm with Committee chair cancellation of weekly Wishnew, Jordan A. 0.20 132.00
meeting and advise Committee of same.
Total: 010 MEETINGS OF CREDITORS 9.70 6,282.00
PLAN AND DISCLOSURE STATEMENT
01-Mar-2011 Continued review and analysis of briefing issues on bid Engelhardt, Stefan W. 3.20 2,512.00
procedures motion.
7
MORRISON
I
FOERSTER
066923-0000001 Invoice Number: 5027697
RESTRUCTURING Invoice Date: May 5, 20 II
01-Mar-2011 Review Ad Hoc Committee papers on ownership of Marinuzzi, Lorenzo 2.60 2,067.00
unencumbered properties for purposes of evaluating plan
value(. 7); review Appaloosa objection to bidding
procedures (.6); review bidding procedures regarding
overbid structures and allocations (.6), review and revise
summary of objections for distribution to Committee
(.7).
01-Mar-2011 Review and analyze objections to bidding procedures Richards, Erica J. 5.90 3,245.00
motion and prepare summary of same for circulation to
Committee.
01-Mar-2011 Review summary of bidding procedure objections and Wishnew, Jordan A. 0.30 198.00
statements.
02-Mar-2011 Telephone call with A. Sathy (K&E) and M. Beilinson Marinuzzi, Lorenzo 3.90 3,100.50
regarding possible settlement of sale objections (.6);
telephone call with V. Indelicato (Dewey) regarding Ad
Hoc Committee bid proposal (.5); telephone call with
Jefferies to review parameters of settlement proposals
and formulate recommendation for Committee (1.0);
correspondence to/from Jefferies regarding claims pool
and allocations among entities (.4); review schedules of
assets for operating lessees and corresponding claims to
develop recovery scenarios (.8); review draft liquidation
analysis (.6).
02-Mar-20 II Review global settlement terms offered by Debtors. Wishnew, Jordan A. 0.90 594.00
03-Mar-2011 Review Midland statement on sale process (.5); review Marinuzzi, Lorenzo 4.80 3,816.00
Apollo statement (.4); review Plan structure and potential
distributions under various scenarios on value to assess
structures of potential settlement (1.9); telephone calls
with A. Sathy (K&E) and M. Beilinson regarding
structure of plan settlement, status of proposals (1.0);
review Committee and Appaloosa opposition to plan
structure and sale process (1.0).
03-Mar-2011 Research regarding Debtors' bidding procedure motion. Malison, Stacy L. 0.70 350.00
04-Mar-2011 Review briefings on reply to bid procedures motion Engelhardt, Stefan W. 4.90 3,846.50
(4.2); review correspondence (various) regarding
settlement issues (.5); review correspondence to court
(.2).
04-Mar-2011 Review correspondence from Ad Hoc Committee Marinuzzi, Lorenzo 4.40 3,498.00
requesting adjournment (.3); telephone conference with
Court on status of sale hearing (.6); discussions with
Debtors regarding settlement with Committee (.7);
review and analyze settlement terms (1.2); review sale
process objections to detennine resolution and remaining
concerns (.7); telephone calls and correspondence with
Lehman and Five Mile regarding settlement (.9).
04-Mar-2011 Review correspondence from Ad Hoc Committee Wishnew, Jordan A. 0.70 462.00
requesting adjournment of bid procedures hearing (.2);
participate in conference call with Judge Chapman (.5).
8
MORRISON
I
FOERSTER
066923-000000 I Invoice Number: 5027697
RESTRUCfURING Invoice Date: May 5, 2011
Date Services Timekeeper Hours
05-Mar-2011 Correspondence to/from A. Sathy (K&E) regarding Marinuzzi, Lorenzo 0.40
status of settlement.
06-Mar-2011 Review pleadings filed by Debtors in connection with Marinuzzi, Lorenzo 2.00
sale motion- brief and supplemental declarations (1.2);
participate in call among professionals regarding sale
process (.8).
06-Mar-2011 Review developments in plan sponsor negotiations (.2); Wishnew, Jordan A. 0.90
participate in update call with all creditor groups and
debtors (.7).
07-Mar-2011 Review briefing on stalking horse reply and associated Engelhardt, Stefan W. 4.50
exhibits (3.8); review supplemental statement submission
(.7).
07-Mar-2011 Participate in Court conference on bidding procedures. Marinuzzi, Lorenzo 1.00
07-Mar-2011 Participate in status call with creditor constituencies and Wishnew, Jordan A. 1.80
Judge Chapman (.8); review Debtors' omnibus reply to
bidding procedures objections (1.0).
08-Mar-2011 Review and analysis of revised bid procedures and Engelhardt, Stefan W. 4.60
commitment letter (4.3); review proposed hearing order
(.3).
08-Mar-2011 Review and analyze revised commitment letter and Marinuzzi, Lorenzo 3.90
bidding procedures (1.0); analysis of settlement proposal
and recoveries under multiple scenarios ( .9); review
mechanics of settlement and plan implementation,
timeline and safeguards (1.2); telephone calls with
Debtors
1
counsel regarding sale motion hearing and
settlement structure (.8).
08-Mar-2011 Review blacklined commitment letter and bidding Wishnew, Jordan A. 0.70
procedures and potential clarifications (.5); prepare for
March 10 hearing (.2).
09-Mar-2011 Review correspondence (various) regarding hearing Engelhardt, Stefan W. 3.20
issues (1.2); review objections submitted to court (I .7);
review reservation of rights (.3).
09-Mar-20 II File Committee
1
s reservation of rights in connection with Guido, Laura 0.90
bid procedures motion and assist with service
distribution of same.
09-Mar-2011 Review multiple drafts of amendment language for cash Marinuzzi, Lorenzo
collateral and sale order, term sheet (1.6);
5.30
correspondence and discussions with counsel for
Lehman, Five Mile and Debtors regarding stalking horse
bid modifications and Committee consent (1.5); review
open points for Committee supplemental objection (.6);
prepare and revise Committee supplemental objection for
filing ( 1.0); review supplemental objections filed by ad
hoc equity group, LNR, Trimont, and Appaloosa (.6).
9
Value
318.00
1,590.00
594.00
3,532.50
795.00
1,188.00
3,611.00
3,100.50
462.00
2,512.00
234.00
4,213.50
MORRISON
I
FOERSTER
066923-000000 I Invoice Number: 5027697
09-Mar-2011 Telephone calls with D. Fliman (5 Mile) and B. Lennon Wishnew, Jordan A. 2.70 1,782.00
(K&E) concerning
11
death trap
11
provision in Term Sheet
(.5); prepare, revise and serve reservation of rights
concerning bid procedures motion (1.9); prepare for bid
procedures hearing (.3).
I 0-Mar-20 11 Review and analysis of proposed final settlement papers Engelhardt, Stefan W. 4.30 3,375.50
(3.8); review correspondence (various) regarding hearing
issues (.5).
10-Mar-2011 File notice of withdrawal of reservation of rights Guido, Laura 0.20 52.00
pertaining to bid procedures motion.
10-Mar-2011 Review revised order on sale process and bidding Marinuzzi, Lorenzo 2.20 1,749.00
procedures, term sheet (.8); correspondence to/from
Debtors regarding order (.3); review and revise
withdrawal of objection on sale motion (.6); review with
Debtors status of remaining objections (.5).
10-Mar-2011 Draft, revise, finalize and serve Notice of Withdrawal of Wishnew, Jordan A. 1.10 726.00
Reservation of Rights (.9); review modified Term Sheet
(.2).
11-Mar-20 11 Review correspondence (various) regarding settlement Engelhardt, Stefan W. 0.80 628.00
and hearing issues.
11-Mar-2011 Review revised sale order and commitment letter. Marinuzzi, Lorenzo 0.50 397.50
17-Mar-2011 Telephone call with Debtors and advisors concerning Wishnew, Jordan A. 0.80 528.00
reorganization efforts for seven remaining properties
(.5); review updated process letter (.3).
22-Mar-2011 Review Midland's reservation of rights to Debtors' Wishnew, Jordan A. 0.30 198.00
exclusivity extension motion (.1); review developments
as it relates to Hilton Anaheim and Ontario (.2).
24-Mar-20 11 Review exclusivity motion (.5); review CW/CIII Marinuzzi, Lorenzo 1.30 1,033.50
objections (.5); review Lehman reservation of rights (.3).
27-Mar-2011 Review, analyze and summarize LCPI motion to consent Koshgerian, Stephen P. 2.30 874.00
to Lehman ALI's entrance into the commitment letter
with the Debtors.
28-Mar-2011 Revise summary ofLCPI motion to consent to Lehman Koshgerian, Stephen P. 0.50 190.00
ALI's entrance into the commitment letter.
Total: 011 PLAN AND DISCLOSURE STATEMENT 78.50 57,373.00
RELIEF FROM STAY PROCEEDINGS
01-Mar-2011 Review B&B stay stipulation. Marinuzzi, Lorenzo 0.50 397.50
13-Mar-2011 Review motion filed against Grand Prix Arlington. Wishnew, Jordan A. 0.10 66.00
24-Mar-2011 Review C-lll stay relief motion (.6); discuss stay relief Marinuzzi, Lorenzo 0.90 715.50
motion with M. Carmel (.3).
24-Mar-20 11 Review C-III's motion as to Hilton Ontario. Wishnew, Jordan A. 0.20 132.00
10
MORRISON I FOERSTER
066923-000000 I
RESTRUCTURING
Date Services
27-Mar-2011 Review, analyze and summarize C-111 motion to lift the
automatic stay on the Hilton Ontario property.
29-Mar-2011 Review C-III motion with J. Wishnew.
29-Mar-2011 Address C-III motion with L. Marinuzzi as it relates to
plan exclusivity objection.
Total: 012 RELIEF FROM STAY PROCEEDINGS
HEARINGS
09-Mar-2011 Prepare materials for March 10 hearing.
10-Mar-2011 Prepare for sale hearing, review of papers and
Committee presentation (1.2); attend hearing (3.3).
10-Mar-2011 Attend Part I of bid procedures hearing.
11-Mar-2011 Attend hearing and status conference on sale motion.
11-Mar-20 11 Attend and prepare for bid procedures hearing (2. 7);
listen into Judge Chapman's decision (1.1).
24-Mar-2011 Prepare materials for March 29 fee hearing (1.2); analyze
docket for hearing preparation materials (.8).
24-Mar-2011 Review and analyze monthly statements and figures for
March 29 hearing (1.8); summarize results and
conclusions of analysis (.4).
28-Mar-20 11 Prepare omnibus hearing materials.
28-Mar-20 11 Further review and analyze monthly statements and
figures for March 29 hearing.
28-Mar-2011 Prepare for contested fee hearing including review of fee
statements, objections and application ( 1.0); prepare
presentation (2.0).
29-Mar-2011 Attend omnibus hearing on exclusivity and fees (2.7);
prepare for hearing, review fee materials and
presentation (1.2).
Total: 013 HEARINGS
COMMUNICATION WITH CREDITORS
03-Mar-2011 Correspondence to/from Committee members on status.
03-Mar-20 11 Telephone calls with creditors about developments in
plan sponsor process (.5); coordinate unscheduled
Committee meeting to discuss pressing issue (.2).
04-Mar-2011 Correspondence and telephone calls with Committee
members regarding settlement offer.
04-Mar-2011 Review correspondence from Committee members
concerning settlement offers.
II
Invoice Date: May 5, 2011
Timekeeper Hours
Koshgerian, Stephen P. 1.70
3.80
Guido, Laura 1.40
Keeton, Douglas 2.00
Guido, Laura 0.50
31.10
Value
646.00
159.00
132.00
2,248.00
364.00
3,577.50
2,970.00
3,577.50
2,508.00
450.00
836.00
130.00
304.00
2,385.00
3,100.50
20,202.50
477.00
462.00
795.00
198.00
MORRISON
I
FOERSTER
066923-0000001 Invoice Number: 5027697
05-Mar-2011 Correspondence to/from Committee members regarding Marinuzzi, Lorenzo 0.50 397.50
settlement offer from Lehman.
07-Mar-2011 Prepare correspondence to Committee regarding Marinuzzi, Lorenzo 1.00 795.00
weekend discussions on plan and status conference with
court (.5); review claims file and discuss with A. Newton
proof of claim and reconciliation process (.5).
09-Mar-20 II Prepare report for Committee on status of plan/sale Marinuzzi, Lorenzo 1.30 1,033.50
negotiations and open points (.7); correspondence
to/from Committee members regarding open point
follow-up (.6).
10-Mar-2011 Prepare e-mail update to Committee concerning bid Wishnew, Jordan A. 0.40 264.00
procedure developments.
11-Mar-2011 Review and revise summary of hearing for Committee Marinuzzi, Lorenzo 0.80 636.00
(.4); correspondence to/from Committee members
regarding next steps (.4).
11-Mar-2011 Prepare and revise e-mail to Committee summarizing Wishnew, Jordan A. 1.10 726.00
results of bid procedures hearing.
15-Mar-2011 Email to Committee members regarding case status and Malison, Stacy L. 0.20 100.00
next Committee conference call.
16-Mar-2011 Telephone call with M. Boltz regarding claims Marinuzzi, Lorenzo 0.60 477.00
reconciliation process.
16-Mar-2011 Telephone call with JMC Global about claims and plan Wishnew, Jordan A. 0.30 198.00
distributions.
22-Mar-20 II E-mail correspondence with A. Newton regarding claims Wishnew, Jordan A. 0.20 132.00
issues.
30-Mar-20 II Telephone call with Marriott counsel regarding sale Marinuzzi, Lorenzo 0.40 318.00
process.
Total: 016 COMMUNICATION WITH CREDITORS 9.40 7,009.00
2007 TRASNX. INVEST.
01-Mar-2011 Review of Jefferies' analysis of2007 Transaction (2.3); Ramos, Leah A. 4.90 3,136.00
review summary of the key terms of the Debtors' D&O
insurance policies (2.6).
02-Mar-2011 Preparation for meeting with financial advisors (2.2); Engelhardt, Stefan W. 8.70 6,829.50
meeting with Jefferies and L. Marinuzzi, J. Wishnew, L.
Ramos and P. Galante regarding claims analysis (2.7);
review case status and strategy with litigation team (.3);
telephone conference with financial advisors regarding
claim strategy (.2); review strategy issues with L.
Marinuzzi and J. Wishnew (.7); attention to claim
analysis issues (2.6).
02-Mar-2011 Review revised Jefferies solvency analysis and Marinuzzi, Lorenzo 3.40 2,703.00
transaction report with Jefferies and S. Engelhardt, J.
Wishnew, L. Ramos and P. Galante (2.7); review claims
strategy issues with S. Engelhardt and J. Wishnew (.7).
12
:MORRISON
I
FOERSTER
066923-0000001 Invoice Number: 5027697
02-Mar-2011 Review of OCR-error documents (.8); review documents Ramos, Leah A. 4.00 2,560.00
produced in response to Rule 2004 discovery in follow-
up of issues for Jefferies' analysis of2007 Transaction
(.5); meet with Jefferies, S. Engeibardt, L. Marinuzzi, J.
Wishnew and P. Galante to discuss claims analysis (2.7).
02-Mar-2011 Follow up on specific issues and further revise analysis Wishnew, Jordan A. 3.40 2,244.00
with Jefferies, S. Engelhardt, L. Marinuzzi, P. Galante
and L. Ramos (2. 7); review claims analysis and strategy
with S. Engelhardt and L. Marinuzzi (.7).
03-Mar-2011 Review and analysis of unsecured claims analysis (1.3); Engelhardt, Stefan W. 9.50 7,457.50
review of potential claim analysis and material prepared
by financial advisors (8.2).
03-Mar-20 II Emails with Jefferies regarding noteworthy documents in Ramos, Leah A. 1.10 704.00
cormection with 2007 Transaction investigation (.6);
review noteworthy emails in follow up to meeting with
Jefferies on analysis of2007 Transaction (.5).
24-Mar-2011 Research and analyze state law claims in recent Molison, Stacy L. 3.10 1,550.00
bankruptcy cases (2.6); review same with J. Wishnew
(.3); email with L. Marinuzzi regarding same (.2).
24-Mar-2011 Review state law claims with S. Malison. Wishnew, Jordan A. 0.30 198.00
Total: 022 2007 TRASNX. INVEST. 38.40 27,382.00
Total Fees 148,883.00
13
MORRISON I FOERSTER
066923-000000 I
RESTRUCTURJNG
Timekeeper Summary
Title Name Hours
Partner Engelhardt, Stefan W. 47.40
Partner Marinuzzi, Lorenzo 79.90
Associate Koshgerian, Stephen P. 13.90
Associate Malison, Stacy L. 13.70
Associate Ramos, Leah A. 10.00
Associate Richards, Erica J. 5.90
Associate Wishnew, Jordan A. 33.60
Paralegal Guido, Laura 13.30
Paralegal Keeton, Douglas 3.30
TOTAL 221.00
14
Rate Value
785.00 37,209.00
795.00 63,520.50
380.00 5,282.00
500.00 6,850.00
640.00 6,400.00
550.00 3,245.00
660.00 22,176.00
260.00 3,458.00
225.00 742.50
148,883.00
MORRISON I FOERSTER
066923-000000 I
RESTRUCTURING
TASK CODE SUMMARY:
Task Code Description
002 ASSET DISPOSITION/SALES
003 BUSINESS OPERATIONS AND ADVICE
004 CASE ADMINISTRATION
005 CLAIMS ADMINISTRATION AND OBJECTIONS
007 FEE/EMPLOYMENT APPLICATIONS
008 FEE/EMPLOYMENT OBJECTIONS
009 FINANCING
010 MEETINGS OF CREDITORS
011 PLAN AND DISCLOSURE STATEMENT
012 RELIEF FROM STAY PROCEEDINGS
013 HEARINGS
016 COMMUNICATION WITH CREDITORS
022 2007 TRASNX. INVEST.
TOTAL
IS
Hours
9.10
2.60
8.00
12.30
11.80
3.00
3.30
9.70
78.50
3.80
31.10
9.40
38.40
221.00
Amount
7,191.50
2,060.00
2,155.00
7,819.00
4,527.00
2,253.50
2,380.50
6,282.00
57,373.00
2,248.00
20,202.50
7,009.00
27,382.00
148,883.00
MORRISON I FOERSTER
066923-000000 I
RESTRUCTURING
Date
24-Mar-2011
06-Mar-2011
13-Mar-2011
28-Feb-2011
14-Mar-2011
15-Mar-2011
30-Mar-20 II
04-Mar-20 II
08-Feb-2011
Disbursement Detail
Disbursement Description
Air Freight LORENZO MARINUZZI, ENGLEWOOD CLIFFS, 07632, Invoice
#:OOOOOOE12397131 Tracking #:IZE1239725687I I605
Messenger Service- VENDOR: DELUXE DELIVERY SYSTEMS, INC. -Ticket#
03218558, Messenger service delivery to Bowling Green, NYC.
Messenger Service- VENDOR: DELUXE DELIVERY SYSTEMS, INC. -Ticket#
03229112, Messenger service delivery to US Bankruptcy court, NY.
Reporting Fees- VENDOR: TSG REPORTING, INC.- Deposition ofRonen Bojmel,
certified transcript- expedited delivery, certified transcript- evening pages, rough ASCII.
Reporting Fees- VENDOR: VERITEXT/NEW YORK REPORTING COMPANY LLC-
Certified transcript; electronic service charges; shipping & handling.
Certified transcript; electronic service charges; shipping & handling.
Certified transcript of deposition; I 0-13800.
Meals LIBERTY DELI MRS FIELDS C- Purchase- Client Snacks- Jordan Wishnew
LIBERTY DELI MRS FIELDS C NARY AEZ ROSLYN ANN (9 people).
Transportation Invoice #: 140545 Voucher#: 1958235 Travel Date: 02/04111 From: M, 1290
6 AVE 10018 To: NJ, JERSEY' CITY OTS L. Guido- Car home working late
Disbursement Type Transaction Date Daily Total Rate Quantity
Photocopies 09-Mar-2011 39.70 0.10 397
Photocopies Total
Long Distance Telephone 02-Mar-2011 6.45 0.15 43
02-Mar-2011 1.06 1.06 I
02-Mar-20 II 6.24 6.24 I
02-Mar-2011 8.59 8.59 I
03-Mar-20 II 7.50 0.15 50
03-Mar-2011 21.84 21.84 I
23-Mar-2011 2.92 2.92 I
24-Mar-2011 1.35 0.15 9
Long Distance Telephone Total
Total Disbursements
16
Value
18.94
12.00
12.00
1,869.00
179.00
186.20
179.90
52.35
49.83
Value
39.70
55.95
2,654.87
MORRISON I FOERSTER
066923-000000 I
RESTRUCTURING
COST CODE SUMMARY:
Task Code Description
004 Photocopies
005 Long Distance Telephone
057 Reporting Fees
047 Air Freight
054 Messenger Service
077 Meals
078 Transportation
17
TOTAL
Total Disbursements
Amount
39.70
55.95
2,414.10
18.94
24.00
52.35
49.83
2,654.87
2,654.87
Total This Invoice
USD

10000004548

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Objection Deadline: June 6, 2011 at 4:00 p.m.

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