Billionaire investor John Paulson has put a real estate unit of his hedge fund into bankruptcy to thwart a lawsuit by a lender that claims it is owed tens of millions of dollars related to the recent sale of several luxury resorts, Reuters reported yesterday. According to court filings on Wednesday, MSR Hotels & Resorts Inc. sought chapter 11 protection from creditors to sell its remaining assets and wind down. MSR in February won court approval to sell four resorts to the Government of Singapore Investment Corp. sovereign wealth fund for $1.5 billion, including assumed debt, court papers show.
