Bankrupt MSR Trounces Five Mile In $59M Loan Fight
By Maria Chutchian
Law360, New York (October 1, 2013, 5:36 PM EDT) -- The judge overseeing the bankruptcy of Paulson & Co. Inc.’s MSR Hotels & Resorts Inc. on Tuesday made a sweeping rejection of the many attacks lodged by alternative investment fund Five Mile Capital Partners LLC in its efforts to collect $58.7 million it says it is owed on a loan.
The rulings appear to put an end to the long-standing battle between the parties over the sale of luxury resort assets to a Singaporean wealth fund for $1.5 billion, unless Five Mile decides to appeal. MSR,...