General Growth Properties Eyes Exit From Chapter 11
The fourth-largest real estate investment trust in the United States moved a big step closer to emerging from Chapter 11 bankruptcy Tuesday by filing dozens of precedent-setting consensual plans that would collectively restructure billions of dollars in mortgages. General Growth Properties' plans for modifying the terms of its plethora of securitized loans are already being studied by others in the industry as a possible alternative to foreclosure for similarly troubled real estate debtors.
