Return to search


A trust representing creditors of bankrupt motel chain Extended Stay America Inc. has filed a complaint against Lightstone Holdings and other parties, Reuters reported. The complaint is aimed at avoiding obligations arising from the loans made by them to fund the 2007 leveraged buyout of the hotel chain, Reuters wrote. The Blackstone Group sold Extended Stay in 2007 in an $8 billion deal. The complaint, filed in Manhattan’s bankruptcy court, is seeking to recover funds to benefit creditors.