MSR Slams Five Mile's Bid To Convert Bankruptcy To Ch. 7

Law360, New York (July 11, 2013, 7:04 PM EDT) -- Paulson & Co.’s real estate investment trust MSR Hotels & Resorts Inc. on Wednesday slammed Five Mile Capital Partners LLC’s bid to convert MSR’s bankruptcy to a Chapter 7 case, saying the fund is getting in the way of its efforts to sell intellectual property assets.

The REIT’s objection comes a week after Five Mile petitioned a New York bankruptcy judge to convert the Chapter 11 case or to appoint a trustee based on its belief that MSR’s management is conflicted and will not operate in...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.