General Growth To Get $500M Infusion From Fund

Law360, New York (July 12, 2010, 2:08 PM EDT) -- General Growth Properties Inc. is set to receive a $500 million equity investment from a Texas pension fund, a move that should enable the bankrupt mall owner to sail out of Chapter 11 protection by October.

The company sought approval for a supplemental equity investment agreement with the Teacher Retirement System of Texas in a motion filed Monday in the U.S. Bankruptcy Court for the Southern District of New York, saying the move was supported by “sound business justifications.”

“By entering into the supplemental equity investment...
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