CHICAGO H&S HOTEL PROPERTY LLC

Case Highlights

• Oversaw hotel operations and improvements to hotel’s infrastructure
• Coordinated sale of company, allowing for distribution to the unsecured creditors

Case Narrative

A representative of DSI was appointed Chief Restructuring Officer of Chicago H&S Hotel Property LLC’s bankruptcy filing in the fall of 2007. The hotel had been purchased in 2005 to be developed into a hotel condominium. The sales of the condominium units were not at projected levels and the refurbishment project was behind schedule and over budget. During the seven-month bankruptcy proceeding, DSI oversaw the operation of the hotel and improvements in the hotel’s infrastructure. DSI also coordinated the bankruptcy process including the auction of the property and the confirmation of a plan of reorganization, which provided for the sale of the property to the secured lender.