MSR Hotels granted 30-day exclusivity extension to continue sale process

By Lisa Kerner

Charlotte, N.C., Oct. 1 - MSR Hotels & Resorts, Inc. was granted its requested 30-day extension of its exclusive periods for filing and soliciting votes on a plan of reorganization by the U.S. Bankruptcy Court for the Southern District of New York on Tuesday, according to an attorney familiar with the case.

The courts extended the exclusive filing period through Nov. 4 from Oct. 5 and the solicitation period through Jan. 3 from Dec. 4.

As previously reported, MSR said it would use the extra time to continue its sale process and continue talks with stakeholders on the terms of a Chapter 11 plan.

MSR also said the extension would allow the court to rule on its motions for approval of bidding procedures and debtor-in-possession financing, as well as on a motion to convert its Chapter 11 case, before a lengthier extension is requested.

MSR Hotels, a New York-based real estate investment trust, filed for bankruptcy on May 8. Its Chapter 11 case number is 13-11512.

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