Innkeepers USA Trust
Innkeepers Chief Restructuring Officer Marc Beilinson said in a statement that the two sides were negotiating on Monday, but no agreement had been reached.
Beilinson said Innkeepers was prepared to move ahead with a trial on Tuesday in U.S. Bankruptcy Court in Manhattan if a deal could not reached Monday.
Cerberus and Chatham in August walked away from the deal, saying a material adverse event had occurred and could damage Innkeepers' business.
(Reporting by Nick Brown)