General Growth expands bankruptcy plan
Shopping-center owner General Growth Properties Inc. said in a court filing yesterday that holders of 30 more mortgages decided to join in the Chapter 11 plan filed Dec. 1 covering 92 properties with $9.7 billion in mortgages.
General Growth began the largest real estate reorganization in history by filing under Chapter 11 on April 16.
The Chicago-based company had assets of $29.6 billion and $27.3 billion in total liabilities as of Dec. 31.
It owns or manages more than 200 shopping-mall properties.
The case is In re General Growth Properties Inc., 09-11977, U.S. Bankruptcy Court, Southern District of New York (Manhattan).
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