GGP Gets OK To Restructure $9.7B In Mortgage Loans

Law360, New York (December 2, 2009, 4:17 PM EST) -- A bankruptcy court has granted preliminary approval to a disclosure statement filed by mall operator General Growth Properties Inc. related to its plan to restructure approximately $9.7 billion in secured mortgage loans for 92 properties.

Bankruptcy Judge Allan L. Gropper for the Southern District of New York gave the disclosure statement preliminary approval on Tuesday, saying it provides the claims holders who are entitled to vote on the plan with adequate information to make an informed decision.

GGP filed its plan of reorganization and the related...
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