MSR Resort Judge Won't Stay Plan Confirmation

Law360, New York (March 1, 2013, 6:07 PM EST) -- A New York bankruptcy judge refused Thursday to grant alternative investment fund Five Mile Capital LP’s bid for a limited stay of MSR Resort Golf Course LLC’s Chapter 11 plan confirmation and $1.5 billion sale to a Singaporean wealth fund.

U.S. Bankruptcy Judge Sean H. Lane said Five Mile, which aggressively challenged the resort owner’s plan confirmation, failed to establish a factual or legal basis for the stay. Judge Lane approved the reorganization plan and asset sale to Government of Singapore Investment Corp. (Realty) Private Ltd....
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