Innkeepers USA Granted Ch. 11 Plan Extension

Law360, New York (January 27, 2011, 7:37 PM EST) -- The federal judge overseeing Innkeepers USA Trust's Chapter 11 proceedings has extended the company's exclusive right to file a restructuring plan, which would have expired at the end of January.

Judge Shelley C. Chapman of the U.S. Bankruptcy Court for the Southern District of New York signed a bridge order Wednesday extending Innkeepers' exclusive filing period through March 29, and its exclusive solicitation period through May 28.

Innkeepers had already won one extension of its exclusive filing and solicitation rights, which extended those periods through Jan....
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