MSR Creditor Seeks New Sale In Light Of Anti-Competition Pact

Law360, New York (October 18, 2012, 3:37 PM EDT) -- A creditor of MSR Resort Golf Course LLC on Wednesday asked a New York bankruptcy judge to restart the sales process for MSR’s property, saying Government of Singapore Investment Corp. failed to reveal an anti-competitive agreement with another company when it offered $1.5 billion for the property.

Five Mile Capital Partners LLC argues GIC was party to an anti-competitive arrangement with KSL Capital Partners LLC, which incentivized KSL not to bid for MSR’s assets — a fact GIC failed to disclose to the court, the debtors...
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