Resort Owner MSR Wants More Time To Spruce Up Ch. 11
By Max Stendahl
Law360, New York (February 2, 2012, 6:17 PM ET) -- Bankrupt resort operator MSR Resort Golf Course LLC on Wednesday told a New York judge it needed more time to formulate a restructuring plan as it tries to nix property management deals with a Hilton Worldwide Inc. unit and Marriott International Inc.
MSR, which owns five luxury hotel and resort properties, sought to extend by 120 days the time during which it can exclusively file and gain acceptances for a Chapter 11 plan. The filing and solicitation periods had been set to expire on Feb. 25...