A U.S. House committee chairman said the Internal Revenue Service official who refused to answer his panel’s questions today about her involvement in scrutinizing small-government groups may have waived her right to avoid testimony and might have to return.
Chatham Lodging Trust, the hotel- property fund operated by Jeffrey Fisher , became the first U.S. real estate investment trust this year to raise as much as it sought from buyers in its initial public offering.
Innkeepers USA Trust won final court approval for a reorganization plan that includes a sale of 64 of the company’s hotels to Cerberus Capital Management LP and Chatham Lodging Trust, paving its way to exit bankruptcy.
Innkeepers USA Trust , a hotel investment company owned by a vehicle managed by an affiliate of Leon Black ’s Apollo Investment Corp., filed for bankruptcy protection after room revenue fell and debt payments rose.
Cerberus Capital Management LP reached a tentative settlement with Innkeepers USA Trust over claims that it breached an agreement to buy the hotel company, according to two people with knowledge of the discussions.
Todd Kozel, the founder and chief executive officer of Gulf Keystone Petroleum Ltd., said he may have to pay a $6 million fine to U.S. tax authorities because he didn’t declare overseas accounts and trusts.
Cerberus Capital Management LP and Chatham Lodging Trust will pay $1.02 billion for 64 hotels of Innkeepers USA Trust after settling a dispute over whether the deal could be called off because of the U.S. economic slump.