Innkeepers Trial Over Nixed $1B Deal Delayed Again

Law360, New York (October 12, 2011, 1:50 PM EDT) -- A trial over a scuttled $1.12 billion property deal between bankrupt hotel operator Innkeepers USA Trust and a Cerberus Capital Management LP unit was put on hold again Wednesday after already being twice delayed earlier this week for settlement talks.

Innkeepers and Cerberus had been negotiating a possible deal that could end Innkeepers suit over whether Cerberus and Chatham Lodging Trust were entitled to back out of the transaction. The trial, now scheduled to begin Oct. 20, was first delayed Monday.

Innkeepers declined to comment on...
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