GGP Prevails In Dispute Over Brookfield Deal Trigger

Law360, New York (May 27, 2010, 7:39 PM EDT) -- Bankrupt General Growth Properties Inc. has won a crucial clarification of an order permitting the company to strike a preliminary deal with a team led by Brookfield Asset Management Inc., blocking an alleged attempt by debtor-in-possession lenders to claim that the arrangement allows them to cut off funding.

Judge Allan Gropper issued an order Thursday in the U.S. Bankruptcy Court for the Southern District of New York stating that the order, issued May 7, does not constitute a “qualified rights offering” under provisions of the DIP...
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