Government of Singapore Investment Corp. lost a bid to move forward with a $1.5 billion offer for a group of resorts that hedge fund Paulson & Co. is seeking to restructure.
The Singapore sovereign wealth fund, known as GIC, says the five resorts are putting it and other creditors at risk by prolonging their bankruptcy case and should instead be put up for sale. Full story
Related:
Paulson gets more time for bankrupt hotel payoffs - Reuters
Paulson gets more time for bankrupt hotel payoffs - The Baltimore Sun
Wednesday A Rare Good News Day For Paulson - FINalternatives
