Fund Seeks To Stem $61M MSR Default Interest Payment

Law360, New York (November 20, 2012, 7:35 PM EST) -- An alternative investment fund with a claim against bankrupt MSR Resort Golf Course LLC on Monday urged a bankruptcy judge to reject a $61 million default interest payment, calling the payment a tool to block a rival bid for the resort operator.

In an objection filed in New York bankruptcy court, Five Mile Capital Partners LLC said that along with being used to stop a rival from competing with Government of Singapore Investment Corp.'s $1.5 billion stalking horse bid, the $61 million payment scheduled to go...
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