General Growth Properties asks for six-month extension to exclusivity

By Caroline Salls

Pittsburgh, July 2 - General Growth Properties, Inc. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend its exclusive plan-filing period to Feb. 6, 2010 from Aug. 14 and the solicitation period to April 23, 2010 from Oct. 13.

General Growth said there are still unresolved issues in its bankruptcy case, including the determination of outstanding claims and the analysis of executory contracts and leases.

The company also said it needs more time to negotiate and propose a plan of reorganization.

A hearing is scheduled for July 28.

General Growth, a Chicago-based real estate investment trust that owns regional shopping malls, master planned community developments and commercial office buildings, filed for bankruptcy on April 16. Its Chapter 11 case number is 09-11977.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.