Judge Won't Find $1.5B Bid For MSR Was In Good Faith Yet

Law360, New York (December 5, 2012, 5:22 PM EST) -- Five Mile Capital Partners LLC's contention that a $1.5 billion bid for MSR Resort Golf Course LLC was anti-competitive fails, but the suitor still must prove its bid was in good faith, a New York bankruptcy judge said in a bench ruling released Wednesday.

U.S. Bankruptcy Judge Sean H. Lane ruled Oct. 25 about whether Government of Singapore Investment Corp. (Realty) Private Ltd. is entitled to the good-faith purchaser protections under Section 363 of the Bankruptcy Code in connection with its stalking horse bid to buy...
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