MACAO-Partners of a long-stalled resort-casino development worth $2.4 billion in Macao called the Macao Studio City, an arm of New Cotai LLC, has filed a lawsuit for breaching the contract against its other partners in the project, eSun Holdings Ltd., CapitaLand Ltd. and their division East Asia Satellite Television Ltd.
New Cotai is an arm of US-based financing firms Silver Point Capital LP and Oaktree Capital Management LP. It became a partner of the project in December 2006 by acquiring 40% interest for $1.3 billion from eSun. For the full story, go to Wall Street Journal.
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