MSR Truce With Marriott Removes Ch. 11 Roadblock

Law360, New York (February 17, 2012, 2:40 PM EST) -- MSR Resort Golf Course LLC on Thursday urged a New York federal judge to sign off on a property management settlement with Marriott International Inc. that would remove a major roadblock to the bankrupt resort operator’s restructuring.

MSR asked the court to approve the stipulation, announced Feb. 13, which would resolve Marriott’s claims for damages after it was terminated as a property manager of MSR’s Doral Golf Resort & Spa. The ouster was a prerequisite for a $150 million stalking horse bid for the resort by real estate mogul Donald Trump, according to MSR.

Thursday's filing did not disclose the amount...

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