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Trouble

MSR Resort, a hotel chain owned by Paulson & Co., has reached a settlement with its creditors, the Government of Singapore Investment Corp. and Five Mile Capital, Reuters reported. The deal, MSR said, will allow it leeway to come up with a plan to emerge from bankruptcy, Reuters wrote. Under the settlement, MSR will present its plan by Sept. 1, 2012. The company filed for bankruptcy in February.

A bankruptcy judge has approved the sale of substantially all of catalog and internet retailer Signature Styles LLC‘s assets to Artemiss, Reuters reported. Signature Styles, owner of catalog and internet retail sites including Spiegel, filed for Chapter 11 bankruptcy protection in June. Signature Styles was formed in June 2009 by investment firm Patriarch Partners to acquire Spiegel Brands from Dymus Funding Co.