6/15/2010

Starwood Capital Group will continue to pursue the acquisition of Extended Stay even though it recently lost an auction for the company. In a court filing, it said the winning bid undervalued Extended Stay and it plans to seek the judge's permission to offer a competing plan for it to exit bankruptcy. "Creditors should be given an opportunity to vote on each of the plans and select the plan that they believe results in the highest and best recovery," it said.

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