MSR Resort exclusive periods extended; further hearing set for May 17

By Caroline Salls

Pittsburgh, April 3 - MSR Resort Golf Course LLC obtained an extension to its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The exclusive filing period was extended to May 21 from April 4 and the solicitation period to July 21 from June 3.

However, if the court approves a settlement between the company and its creditors' committee regarding the committee's informal objection to a previous, longer extension motion before May 21, 2012, the exclusive filing period will be automatically extended to June 24 and the solicitation period to Aug 24.

Barring a settlement, the hearing on the balance of the extension motion will be held on May 17.

MSR Resort owns and operates five resorts, including the Grand Wailea Resort Hotel & Spa in Maui, Hawaii; the La Quinta Resort & Club and PGA West in La Quinta, Calif.; the Arizona Biltmore Resort & Spa in Phoenix; the Doral Golf Resort & Spa in Miami; and the Claremont Hotel Club & Spa in Berkeley, Calif.

The New York-based company filed for bankruptcy on Feb. 1, 2011. The Chapter 11 case number is 11-10372.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.