MSR, Paulson Execs Sued Over $59M Debt, Bankruptcy Sale

Law360, New York (April 10, 2013, 4:49 PM EDT) -- Alternative investment fund Five Mile Capital LP on Tuesday hit Paulson & Co. executives and MSR Hotels & Resorts Inc. with a suit alleging that they mishandled the company’s intellectual property and other assets in a bankruptcy sale and owe Five Mile $58.7 million on a loan.

Five Mile, which vigorously and unsuccessfully challenged the confirmation of several MSR affiliates’ joint Chapter 11 plan and $1.5 billion sale to a Singaporean wealth fund earlier this year, has taken its fight to New York state court. The...
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