MSR Inks $1.5B Stalking Horse Deal With Singapore Fund

Law360, New York (August 20, 2012, 3:07 PM EDT) -- MSR Resort Golf Course LLC asked a New York bankruptcy judge Friday for permission to enter into a stalking horse agreement with a group of Singapore sovereign wealth funds to set a purchase price floor for its assets at $1.5 billion.

Paulson & Co.-owned MSR, which entered bankruptcy protection in February 2011, asked U.S. Bankruptcy Judge Sean H. Lane to authorize it to enter into a commitment letter with 450 Private Ltd. and C Hotel Mezz Private Ltd., affiliates of the Government of Singapore Investment Corp.,...
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