02-16-2011, 03:44 AM
Bloomberg said the offer was revealed in the U.S. Bankruptcy Court in Manhattan on Monday.
The bidder is the Government of Singapore Investment Corp., a sovereign-wealth fund.
Sovereign-wealth funds are investment businesses run by governments that, like Singapore, enjoy large trade surpluses and need to find ways to use their foreign currency balances. The fund has $100 billion and, according to Bloomberg, is one of the creditors of the resorts.
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The bidder is the Government of Singapore Investment Corp., a sovereign-wealth fund.
Sovereign-wealth funds are investment businesses run by governments that, like Singapore, enjoy large trade surpluses and need to find ways to use their foreign currency balances. The fund has $100 billion and, according to Bloomberg, is one of the creditors of the resorts.
more:
http://www.mauinews.com/page/content.det...tml?nav=10