GGP Malls Ignoring Cash Collateral Order: Lenders

Law360, New York (June 11, 2009, 12:00 AM EDT) -- Lenders to two of General Growth Property Inc.'s Las Vegas malls have accused GGP of violating the cash collateral order in its bankruptcy by paying the lenders too little interest, and are asking a bankruptcy judge to enforce the order.

In a motion filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Deutsche Bank Trust Co. Americas, acting as agent for the lenders, said that GGP owed the lenders nearly $3 million in unpaid interest under the cash collateral order....
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