The U.S. government has objected to a bankruptcy reorganization plan that calls for the sale of MSR Resort hotel group to a Singapore sovereign wealth fund, saying that it is an attempt to dodge taxes, Reuters reported yesterday. The MSR Resort group's plan to sell itself to the Government of Singapore Investment Corp. creates tax liabilities of $331 million with no recourse for the Internal Revenue Service (IRS) to recover them, Preet Bharara, U.S. attorney for the Southern District of New York, said in his objection filed on Wednesday. Bharara also objected to MSR seeking an injunction that bars the government from reviewing the tax consequences of the plan.
