Pittsburgh Mall's Ch. 11 Plan Cleared With JC Penney Deal

By Matthew Santoni (August 4, 2020, 4:22 PM EDT) -- A federal bankruptcy judge in Pittsburgh on Tuesday cleared a Chapter 11 reorganization and redevelopment plan for the former Century III Mall, despite some qualms about a proposed sealed settlement between the mall and cleanup contractor ServPro.

With a settlement and withdrawal of objections from the last remaining tenant, J.C. Penney, U.S. Bankruptcy Judge Carlota M. Bohm approved the plan for the once-major suburban shopping mall to be redeveloped into a mix of offices, retail, restaurants, residences and a hotel.

The judge also declined to sign off on a proposed, confidential settlement with ServPro because she was concerned about the monetary...

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