Resort Group Reaches Bankruptcy Truce With MetLife

Law360, New York (October 11, 2011, 7:37 PM EDT) -- Paulson & Co.-owned MSR Resort Golf Course LLC asked a New York bankruptcy court on Friday to approve a key settlement with MetLife Inc. that would allow MSR to retain control of its Chapter 11 proceedings.

The MetLife settlement “allows the debtors to pursue their value-maximizing initiatives without having to wage a costly battle for control of these Chapter 11 cases,” MSR said in a motion.

MetLife has agreed to support the extension of MSR's periods to file and solicit acceptances of a Chapter 11 plan...
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