Broke MSR Conditionally OK'd To Nix Hilton Deals For $124M

Law360, New York (August 27, 2012, 6:57 PM EDT) -- A New York bankruptcy judge issued an order Monday conditionally allowing MSR Resort Golf Course LLC to reject property management agreements with a Hilton Worldwide Inc. unit and officially pegging damages associated with the rejection at about $123.8 million.

U.S. Bankruptcy Judge Sean H. Lane issued the order estimating the damages resulting from the rejection of the management agreements with Hilton unit Waldorf-Astoria Management LLC, spelling out for the first time the full damages amount and how much MSR must pay to cancel agreements with each...
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