Judge Grants Bankrupt Mall Group $57.5M In Bonuses

Law360, New York (October 15, 2009, 6:46 PM EDT) -- Executives and employees of embattled shopping mall owner General Growth Properties Inc. will divvy up potentially $57.5 million in bonuses as part of two incentive plans crafted to align employees' goals with the company’s plan to emerge from Chapter 11 bankruptcy next year.

Judge Allan Gropper of the U.S. Bankruptcy Court for the Southern District of New York signed off on the bonus programs Thursday, saying the relief requested appeared to be in the best interests of the debtors and all interested parties and authorizing the...
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