MSR Slams Five Mile's Bid To Convert Bankruptcy To Ch. 7
By Maria Chutchian
Law360, New York (July 11, 2013, 7:04 PM ET) -- Paulson & Co.’s real estate investment trust MSR Hotels & Resorts Inc. on Wednesday slammed Five Mile Capital Partners LLC’s bid to convert MSR’s bankruptcy to a Chapter 7 case, saying the fund is getting in the way of its efforts to sell intellectual property assets.
The REIT’s objection comes a week after Five Mile petitioned a New York bankruptcy judge to convert the Chapter 11 case or to appoint a trustee based on its belief that MSR’s management is conflicted and will not operate in...