To the surprise of many, when General Growth Properties Inc. (“GGP”) commenced a Chapter 11 proceeding in April 2009, it caused 166 solvent bankruptcy remote entities that were current on
General Growth Properties
To the surprise of many, when General Growth Properties Inc. ("GGP") commenced a Chapter 11 proceeding in April 2009, it caused 166 solvent bankruptcy remote entities that were current on all their indebtedness (the "General Growth SPEs") that each owned a single mall property to also file Chapter 11 petitions.
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