Lenders Lose Bid To Toss Malls From GGP Ch. 11

Law360, New York (August 12, 2009, 5:21 PM EDT) -- A group of lenders has lost a bid to release several shopping centers from the bankruptcy of mall operator General Growth Properties Inc., which sought Chapter 11 in an effort to deal with an $18.4 billion debt load.

Judge Allan Gropper of the U.S. Bankruptcy Court for the Southern District of New York on Tuesday denied the lenders' motion to dismiss the Chapter 11 filings of a number of GGP subsidiaries, saying he had to take into account the interests of the parent company.

“Faced with...
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