Our representation in the Innkeepers case was on behalf of Midland Loan Services in its capacity as the special servicer for the largest of the debtors' secured creditors (two CMBS trusts) holding debt of more than $825 million. Overall, the Innkeepers case involved 92 jointly-administered debtor cases that owned 72 hotels throughout the United States. Forty-five of the 72 hotels secured Midland's indebtedness. The case presented a number of unique issues that resulted in two published opinions where Haynes and Boone's lawyers were lead counsel in the winning litigation for the client. Through Haynes and Boone's efforts, along with the other professionals representing Midland, the return to the CMBS trusts was increased during the case from roughly $475 million to more than $675 million. The outcome of the case and the successes of the firms' lawyers in the two major litigation pieces of the bankruptcy were significant to the client and the national CMBS community.
