GGP Seeks OK Of $6.6B Financing For Ch. 11 Exit

Law360, New York (April 1, 2010, 3:08 PM EDT) -- General Growth Properties Inc. has asked a judge to approve a $6.6 billion financing agreement it says will allow it to emerge on its own from bankruptcy and submitted auction procedures that open the field to rival offers.

The bankrupt mall owner and operator filed a motion in the U.S. District Court for the Southern District of New York on Wednesday, seeking approval of an agreement with three investors, which will provide enough cash to drive GGP out of Chapter 11.

The company also submitted bidding...
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