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GGP, Creditors Defend Malls' Place In Bankruptcy

Law360 (June 9, 2009, 12:00 AM EDT) -- General Growth Properties Inc. and its unsecured creditors are pushing back against attempts by lenders to get some of GGP's shopping mall subsidiaries dismissed from its Chapter 11 case, arguing that the malls will face insolvency in the long term if they don't restructure.

In opposition briefs filed Monday in the U.S. Bankruptcy Court for the Southern District of New York, GGP and the official committee of its unsecured creditors denied allegations by ING Clarion Capital Loan Services LLC and Wells Fargo & Co. that the...
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