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    United States Bankruptcy Court Southern District of New York

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    Chapter 11 Dockets
    The Liquidation Trustee files an objection to a motion filed by Gareth Tooly seeking allowance of a $5,700 claim against the Debtors. The Trustee argues that Tooly is a former shareholder who sold his preferred interests years before the bankruptcy, and thus has no valid claim or interest in the Debtors' estates. The Trustee seeks an order denying Tooly's motion, disallowing the claim, and expunging any resulting alleged equity interest.

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    United States Bankruptcy Court Southern District of New York

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    Chapter 11 Dockets
    37 views7 pages
    The Liquidation Trustee files an objection to a motion filed by Gareth Tooly seeking allowance of a $5,700 claim against the Debtors. The Trustee argues that Tooly is a former shareholder who sold his preferred interests years before the bankruptcy, and thus has no valid claim or interest in the Debtors' estates. The Trustee seeks an order denying Tooly's motion, disallowing the claim, and expunging any resulting alleged equity interest.

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    The Liquidation Trustee files an objection to a motion filed by Gareth Tooly seeking allowance of a $5,700 claim against the Debtors. The Trustee argues that Tooly is a former shareholder who sold his preferred interests years before the bankruptcy, and thus has no valid claim or interest in the Debtors' estates. The Trustee seeks an order denying Tooly's motion, disallowing the claim, and expunging any resulting alleged equity interest.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    37 views7 pages

    United States Bankruptcy Court Southern District of New York

    Uploaded by

    Chapter 11 Dockets
    The Liquidation Trustee files an objection to a motion filed by Gareth Tooly seeking allowance of a $5,700 claim against the Debtors. The Trustee argues that Tooly is a former shareholder who sold his preferred interests years before the bankruptcy, and thus has no valid claim or interest in the Debtors' estates. The Trustee seeks an order denying Tooly's motion, disallowing the claim, and expunging any resulting alleged equity interest.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 7

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    James H.M. Sprayregen, P.C. Paul M. Basta Stephen E. Hessler Brian S. Lennon KIRKLAND & ELLIS LLP 601 Lexington Avenue New York, New York 10022-4611 Telephone: (212) 446-4800 Facsimile: (212) 446-4900 and Anup Sathy, P.C. KIRKLAND & ELLIS LLP 300 North LaSalle Chicago, Illinois 60654-3406 Telephone: (312) 862-2000 Facsimile: (312) 862-2200 Counsel to the Liquidation Trustee UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re: INNKEEPERS USA TRUST, et al.,1 Debtors. ) ) ) ) ) ) ) Chapter 11 Case No. 10-13800 (SCC) Jointly Administered

    OBJECTION TO MOTION OF GARETH TOOLY On behalf of Innkeepers USA Trust and certain of its affiliates (collectively, the Debtors), AP Services, LLC, the trustee for the Liquidation Trust (the Liquidation

    The list of Debtors in these Chapter 11 Cases along with the last four digits of each Debtors federal tax identification number can be found by visiting the Debtors restructuring website at www.omnimgt.com/innkeepers or by contacting Omni Management Group, LLC at Innkeepers USA Trust c/o Omni Management Group, LLC, 16161 Ventura Boulevard, Suite C, PMB 606, Encino, California 91436. The location of the Debtors corporate headquarters and the service address for their affiliates is: c/o Innkeepers USA, 340 Royal Poinciana Way, Suite 306, Palm Beach, Florida 33480.

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    Trustee),2 hereby files this objection (this Objection) to the Motion of Gareth Tooly for Allowance of Claim #1775 for $5,700.00 for Dividends Owed [Docket No. 1908], filed by Gareth Tooly (Tooly) on July 12, 2011 (together with Toolys addendum thereto [Docket No. 1909], the Motion), and seeks entry of an order, substantially in the form attached hereto as Exhibit A, denying the Motion and disallowing and expunging the Tooly Claim (as defined herein). In support of this Objection, the Liquidation Trustee respectfully states as follows: Background 1. On March 9, 2011, Gareth Tooly filed a claim [Claim No. 1775] (the

    Tooly Claim) against the Debtors in their chapter 11 cases for $5,700.00 based on an alleged ownership interest in the Debtors. On June 15, 2011, the Debtors objected to the Tooly Claim in the Debtors Ninth Omnibus Objection to Claims (Claims to be Reclassified, Claims to be Adjusted, Compound Claims to be Reclassified, Wrong Debtor Claims, No Liability Claims, and Amended and Replaced Claims [Docket No. 1709] (the Omnibus Claims Objection) on the basis that the Tooly Claim was filed on account of an alleged equity interest and, therefore, was not the type of claim required to file a proof of claim (reserving all rights to further object to the resulting alleged equity interests on any ground whatsoever).3 Tooly filed no response to the Omnibus Objectioninstead submitting the Motion for allowance of the Tooly Claim as an

    A Liquidation Trust was created pursuant to (a) that certain Innkeepers Liquidation Trust Agreement, dated July 14, 2011, by and between Innkeepers USA Trust and AP Services, LLC (the Liquidation Trust Agreement) and (b) the Debtors Plans of Reorganization Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 1799] (the Plan), for the purpose of, among other things, resolving all remaining Disputed Claims against the Trust Debtors (as defined in the Liquidation Trust Agreement). Paragraph 8(h) of the order establishing certain dates and deadlines for filing proofs of claim in the Chapter 11 Cases [Docket No. 440] (the Bar Date Order) states that any Claim made by any Entity holding equity securities of the Debtors solely with respect to such Entitys ownership interest in or possession of such equity securities is not the type of Claim required to file a proof of Claim.

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    administrative claim. On July 26, 2011, the Court entered the Order Granting Debtors Ninth Omnibus Objection to Claims (Claims to be Reclassified, Claims to be Adjusted, Compound Claims to be Reclassified, Wrong Debtor Claims, No Liability Claims, and Amended and Replaced Claims [Docket No. 1959] (the Omnibus Order) which, among other things, disallowed the Tooly Claim and reclassified it as a potential equity interest. The Liquidation Trustee hereby objects in full to that resulting alleged equity interest. Objection 2. Upon information and belief, Tooly is a former shareholder of certain preferred

    interests of Innkeepers USA Trusthaving sold such interests several years before the Petition Date. Without any holdings in the Debtors as of the Petition Date or any time thereafter, Tooly has no valid claim against or interest in the Debtors estates, and the Debtors thus owe no liability on account of the Tooly Claim. The Liquidation Trustee respectfully submits that the Motion should be denied in full and the Tooly Claim, as reclassified by the Omnibus Order, disallowed and expunged. [Remainder of Page Intentionally Left Blank]

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    WHEREFORE, the Liquidation Trustee respectfully requests that the Court enter an Order, substantially in the form attached hereto as Exhibit A, denying the Motion and granting the relief requested herein and such other relief as the Court deems just and proper.

    New York, New York Dated: February 10, 2012

    /s/ Brian S. Lennon James H.M. Sprayregen, P.C. Paul M. Basta Stephen E. Hessler Brian S. Lennon KIRKLAND & ELLIS LLP 601 Lexington Avenue New York, New York 10022-4611 Telephone: (212) 446-4800 Facsimile: (212) 446-4900 and Anup Sathy, P.C. KIRKLAND & ELLIS LLP 300 North LaSalle Street Chicago, Illinois 60654-3406 Telephone: (312) 862-2000 Facsimile: (312) 862-2200 Counsel to the Liquidation Trustee

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    EXHIBIT A Proposed Order

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    UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re: INNKEEPERS USA TRUST, et al.,1 Debtors. ) ) ) ) ) ) ) Chapter 11 Case No. 10-13800 (SCC) Jointly Administered

    ORDER GRANTING OBJECTION TO MOTION OF GARETH TOOLY Upon the Objection to Motion of Gareth Tooly filed on behalf of the Debtors by the Liquidation Trustee2 requesting entry of an order denying the Motion and disallowing and expunging the Tooly Claim, as reclassified by the Omnibus Order; all as more fully described in the Objection; it appearing that the relief requested is in the best interests of the Debtors estates, their creditors, and other parties in interest; the Court having jurisdiction to consider the Motion and the relief requested therein pursuant to 28 U.S.C. 157 and 1334; consideration of the Motion and the relief requested therein being a core proceeding pursuant to 28 U.S.C. 157(b); venue being proper before this court pursuant to 28 U.S.C. 1408 and 1409; notice of the Motion having been adequate and appropriate under the circumstances; and after due deliberation and sufficient cause appearing therefor, it is HEREBY ORDERED THAT: 1. 2. The Objection is granted to the extent set forth herein. The Motion is denied and the Tooly Claim, as reclassified by the Omnibus Order,

    The list of Debtors in these Chapter 11 Cases along with the last four digits of each Debtors federal tax identification number can be found by visiting the Debtors restructuring website at www.omnimgt.com/innkeepers or by contacting Omni Management Group, LLC at Innkeepers USA Trust c/o Omni Management Group, LLC, 16161 Ventura Boulevard, Suite C, PMB 606, Encino, California 91436. The location of the Debtors corporate headquarters and the service address for their affiliates is: c/o Innkeepers USA, 340 Royal Poinciana Way, Suite 306, Palm Beach, Florida 33480.

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    is hereby disallowed and expunged in its entirety. 3. Omni Management Group, LLC, the Debtors notice and claims agent, is hereby

    authorized to update the Claims register to reflect the relief granted in this Order. 4. The terms and conditions of this Order shall be immediately effective and

    enforceable upon its entry. 5. All time periods set forth in this Order shall be calculated in accordance with

    Bankruptcy Rule 9006(a). 6. The Liquidation Trustee is authorized to take all actions necessary to effectuate

    the relief granted pursuant to this Order in accordance with the Objection. 7. This Court retains jurisdiction with respect to all matters arising from or related to

    the implementation of this Order. New York, New York Dated: _________________, 2012 Honorable Shelley C. Chapman United States Bankruptcy Judge

    Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Objection.

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