Not All General Growth Malls Need Ch. 11: Lenders

Law360, New York (May 5, 2009, 12:00 AM EDT) -- ING Clarion Capital Loan Services LLC has asked the bankruptcy court overseeing the Chapter 11 proceedings of General Growth Properties Inc. to dismiss eight properties from the case, arguing the shopping centers should never have been included in the filing of the nation’s second-largest mall operator.

In a motion filed Monday in the U.S. Bankruptcy Court for the Southern District of New York on behalf of a number of lenders to those properties, ING Clarion told the court that the properties are self-sustaining, face no imminent...
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