MSR Creditors Settle, Allow $1.5B Stalking Horse Auction

Law360, New York (September 10, 2012, 2:23 PM EDT) -- In a last-minute huddle Monday before a motion hearing in a New York bankruptcy court, lenders for MSR Resort Golf Course LLC tentatively settled several of their disagreements over an auction linked to a $1.5 billion stalking horse bid for the hotel company.

Compromising on various contractual matters and freeing MSR from legal responsibilities in several potential fights that might arise in the coming months, the parties — including junior creditor Five Mile Capital Partners LLC and special servicer Midland Loan Services Inc. — agreed to...
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