General Growth Applies For 9.7 Billion Dollar Reorganization in Chapter 11 Bankruptcy
General Growth Properties filed a reorganization plan for their Chapter 11 Bankruptcy. The company is one of the largest operators of malls and shopping centers in the country.
The plan is contingent upon agreements between the company and their mortgage holders, both secured and unsecured. The malls are one of the first casualties in the commercial meltdown as they absorbed lower retail traffic when the economy took it’s dip.
Real estate developer General Growth Properties has filed a reorganization plan with the bankruptcy court in the Southern District of New York. The plan covers 92 regional shopping centers, office properties, community centers and subsidiaries associated with $9.7 billion of secured mortgage loans.
That’s more than the previously announced agreements in principal to restructure $8.9 billion of mortgage loans. The company said the higher figure reflects additional agreements with lenders after an initial announcement on Nov. 19. via Charlotte Business Journal:.
I truly feel that the real estate market will not see a rise or increase until the national economy starts ...
I am currently sitting on an international hedge fund that is investing 100% of an income generating property. Proof ...
Here is one from last week claiming thier son died. Sick.
Good Day,
Please excuse my late reply but I couldn't respond ...
I received the same "Lagos,Nigeria for an international Christian follower’s crusade" email as the post above for a rental place ...
FINALLY, someone agrees with me about the constant traffic problems in the DC metro area. The main problem...archaic freeways and ...
would also be interested in buying houses please contact me thank you ..richard 
I do a lot of BPOs and REOs as a real estate agent. Doing quite well for myself. I shifted ...
I received this response today...
Hello
I can see you are interested in renting the ...
I need the picture of beautiful small house in asia/gulf style like pakistan india.bagladesh and u.a.e
please provide me the best ...
It's been a long that I have not visited your blog and I think I am not up to date. ...
