Texas Comptroller Objects To GGP Bankruptcy Plan

Law360, New York (December 7, 2009, 4:44 PM EST) -- The Texas Comptroller of Public Accounts has objected to bankrupt mall operator General Growth Properties' reorganization plan, arguing that it does not provide for the payment of disputed tax claims that remain unpaid as of the effective date.

The Texas Comptroller said GGP's plan should be modified to require that post-effective date interest be paid on priority tax claims at the rate required by the Bankruptcy Code, according to an objection filed in the U.S. Bankruptcy Court for the Southern District of New York on Friday....
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