Five Mile Loses Appeal Of MSR Hotels' Bankruptcy Plan

Law360, New York (April 9, 2014, 4:32 PM EDT) -- A private equity fund that claims MSR Hotels & Resorts Inc. owes it $58.7 million on a loan lost its appeal of the company’s liquidation plan on Tuesday after a New York federal judge found that the issues are moot.

U.S. District Judge Katherine P. Failla wrote in a 29-page opinion that because Section 363(m) of the Bankruptcy Code offers protections to the purchaser of MSR’s assets, Government of Singapore Investment Corp., she cannot address the merits of appellant Five Mile Capital Partners LLC’s arguments. Even...
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