GGP Secures Plan To Reorganize More Units

By Erin Marie Daly

Law360, New York (March 19, 2010, 6:32 PM ET) -- A judge has approved General Growth Properties Inc.'s plan to restructure about $262 million in debt for five of its property-owning units, marking the sixth group of the mall owner's subsidiaries to reorganize since the company's April Chapter 11 filing.

The plan was approved by Judge Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York, paving the way for the GGP subsidiaries to emerge from bankruptcy.

The plan to reorganize the properties — Beachwood Place Mall LLC, its related unit...
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