Loan Agent Opposes Insurance Settlement Plan In Resort’s Chapter 11 Proceeding
NEW YORK – The company acting as the master servicing agent for the lender of bankrupt MSR Resort Golf Courses LLC on Oct. 23 filed its objection to the resort’s motion for approval of a settlement among the debtor, the debtor’s controlling equity holders and an insurer, contending that the agreement violates the absolute priority rule (In Re: MSR Resort Golf Course LLC, No. 11-10372, Chapter 11, S.D. N.Y. Bkcy.).
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