General Growth's Extension Bid Raises Hackles

Law360, New York (July 24, 2009, 6:41 PM EDT) -- General Growth Properties Inc.'s bid to extend its control of its bankruptcy for six more months has drawn opposition from parties including lenders who gave the debtors a $1.51 billion loan and say the proposed extension is too long, and Metropolitan Life Insurance Co., which accused the debtors of trying to delay the plan process.

Three objections, four limited objections and two joinders opposing General Growth's extension motion were filed in the U.S. Bankruptcy Court for the Southern District of New York on Wednesday alone. Wednesday...
To view the full article, register now.