Innkeepers USA gets approval from bankruptcy judge for $1.1B sale

05/15/2011 | Reuters

Bankruptcy judge Shelley Chapman has approved Innkeepers USA Trust's sale of most of its assets to Cerberus Capital Management and Chatham Lodging Trust for $1.12 billion. The deal does not resolve a dispute between Innkeepers and its major secured creditors over their right to pursue claims against guarantors of their liens.

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