General Growth Scores Interim Use Of Cash Collateral

Law360, New York (April 17, 2009, 12:00 AM EDT) -- The bankruptcy court overseeing mall operator General Growth Properties Inc.'s Chapter 11 proceedings — the largest real estate bankruptcy in U.S. history — has approved the company's request to use cash collateral to fund operations as it waits for approval on a $375 million debtor-in-possession financing facility.

In an order signed late Thursday in the U.S. Bankruptcy Court for the Southern District of New York, Judge Allan L. Gropper gave the Chicago-based GGP the green light to access on an interim basis cash from rent collections...
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