UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re: INNKEEPERS USA TRUST, et al., Debtors.

AD HOC COMMITTEE OF PREFERRED SHAREHOLDERS, Movant, -againstINNKEEPERS USA TRUST, et al., Respondent.

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Chapter 11 Case No. Case No. 10 13800 (SCC) (Jointly Administered)

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ORDER DENYING WITHOUT PREJUDICE MOTION OF AD HOC COMMITTEE OF PREFERRED SHAREHOLDERS FOR ORDER DIRECTING APPOINTMENT OF EXAMINER PURSUANT TO SECTION 1104(C)(1)-(2) OF THE BANKRUPTCY CODE Upon consideration of the motion dated August 11, 2010 (the Motion) of the Ad Hoc Committee of Preferred Shareholders (the Ad Hoc Committee) for an order directing the appointment of an examiner pursuant to section 1104(c)(1)-(2) of title 11 of the United States Bankruptcy Code (the Bankruptcy Code); and this Court having subject matter jurisdiction to consider and determine the Motion and all relief requested therein; and objections to the relief requested in the Motion (the Objections) having been filed by the Official Committee of Unsecured Creditors (the Unsecured Creditors Committee), Lehman ALI, Apollo Investment Corporation, and the Debtors; and
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responses to the Motion (the Responses) having been filed by the United States Trustee, Midland Loan Services, Inc., and Wells Fargo Bank, N.A.; and a hearing (the Hearing) to consider the Motion having been held by this Court at which all interested parties had an opportunity to appear and be heard; and due and sufficient notice of the Motion and the Hearing having been provided; and the Unsecured Creditors Committee having represented to the Court at the Hearing that the Ad Hoc Committee could participate in each of the Bankruptcy Rule 2004 examinations taken by the Unsecured Creditors Committee; and the Court having considered the Motion, the Objections, the Responses, and the arguments presented and evidence introduced at the Hearing; and, after due deliberation and sufficient cause appearing therefor, in accordance with the oral decision rendered by the Court on the record of the Hearing; it is: 1. 2. Ordered that the Motion is denied without prejudice; and it is further Ordered that the Unsecured Creditors Committee shall provide the Ad

Hoc Committee with (a) the opportunity to copy documents produced in respect of its Bankruptcy Rule 2004 examinations and (b) prompt notice of its oral depositions taken under Bankruptcy Rule 2004 so that the Ad Hoc Committee may attend and participate in such depositions, both subject to agreement by the Ad Hoc Committee to be bound by the terms of the Stipulated Protective Order dated August 16, 2010 [dkt. 203].

New York, NY October 19, 2010 /s/Shelley C. Chapman THE HONORABLE SHELLEY C. CHAPMAN UNITED STATES BANKRUPTCY JUDGE

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