Resort Group's Ch. 11 Deal With MetLife Stirs Dissent

Law360, New York (October 24, 2011, 7:05 PM EDT) -- Paulson & Co.-owned MSR Resort Golf Course LLC on Friday was hit with several objections to an announcement that the bankrupt company had reached a settlement with MetLife Inc. allowing it to retain control of its Chapter 11 proceedings.

The objectors took issue with the reshuffling of priority payments that would come with New York federal court approval of the settlement. Some listed more specific objections, including the fact that MetLife itself had previously protested the extension of MSR's time to file and solicit acceptances of...
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