GGP Tweaks Ch. 11 Plan To Improve Capital Structure

Law360, New York (August 3, 2010, 12:34 PM EDT) -- Bankrupt mall operator General Growth Properties Inc. has amended its Chapter 11 reorganization plan to allow it to raise more capital under an investment agreement with three private equity firms, saying it plans to emerge from bankruptcy in October.

The new plan, filed Monday in the U.S. Bankruptcy Court for the Southern District of New York, would modify an investment agreement GGP reached with Brookfield Asset Management Inc., Fairholme Funds Inc. and Pershing Square Capital Management LP, which have agreed to $8.55 billion in capital, including...
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