GGP Tweaks Ch. 11 Plan To Improve Capital Structure

Law360, New York (August 3, 2010, 12:34 PM EDT) -- Bankrupt mall operator General Growth Properties Inc. has amended its Chapter 11 reorganization plan to allow it to raise more capital under an investment agreement with three private equity firms, saying it plans to emerge from bankruptcy in October.

The new plan, filed Monday in the U.S. Bankruptcy Court for the Southern District of New York, would modify an investment agreement GGP reached with Brookfield Asset Management Inc., Fairholme Funds Inc. and Pershing Square Capital Management LP, which have agreed to $8.55 billion in capital, including...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.