Oaktree Capital Management said it is ready to renew discussions with New City Residence Investment Corp. creditors who rejected a plan from Lone Star Funds to take control of Japan’s first failed property trust.

'We remain ready, willing and able to re-engage the discussion with the New City creditors,' Robert Zulkoski, head of Oaktree’s special situations and real estate team in Asia, said in an e-mailed reply to queries from Bloomberg News today. He didn’t give more details.