National mall operator to emerge from bankruptcy

by DeLadurantey Law Office, LLC on April 27, 2010

General Growth Properties Inc., a nationwide mall operating company, filed a motion with a federal bankruptcy court in New York last week requesting permission to emerge from Chapter 11 bankruptcy.

The Chicago-based mall operator only owns one mall in Wisconsin: Mayfair Mall in Wauwatosa.

A $6.55 billion investment from Brookfield Asset Management, Fairholme Capital Management, and Pershing Square Capital Management has allowed for General Growth Properties to recover from bankruptcy.

This investment along with a $1.5 billion debt issuance will allow GGP to form a new company, called General Growth Opportunities, which will oversee a portfolio of real estate assets.

If you are facing financial problems, get on the right track to recovery by contacting the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office, LLC, at 414-377-0518.

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