MSR Makes Final Push For $1.5B Sale As Critics Take Aim

Law360, New York (February 4, 2013, 8:06 PM ET) -- MSR Resort Golf Course LLC on Monday urged a New York bankruptcy judge to ignore protests from an alternative investment fund that claims its Chapter 11 plan is unconfirmable, hoping to remove one of the last remaining roadblocks to a $1.5 billion asset sale that will end its bankruptcy.

On the first day of the resort owner’s reorganization plan confirmation hearing, attorneys for MSR refuted Five Mile Capital Partners LP’s claims surrounding an extra $331 million tax liability attached to the proposed sale, a major point...
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