General Growth Properties, the second-largest mall operator in the US, filed a reorganization plan saying it will split itself into two companies when it exits bankruptcy in October. Under the proposal in US Bankruptcy Court in New York, General Growth will fully repay debt and other claims, raise as much as $8.5bn of new capital and issue stock in two new companies to current shareholders.
General Growth files $8.5bn restructuring plan
Most Popular Articles
Latest Articles
Pennymac posts first-quarter profit of $39M
Loan production income shrank in the first quarter, but the company’s servicing business continues to grow
-
DOJ charges one of America’s top LOs in alleged mortgage fraud scheme
-
Top Producer Review: Features, pricing & alternatives
-
A&D Mortgage names new servicing manager
-
HUD aims to help protect communities from extreme heat
-
Freedom Mortgage founder addresses ’extraordinary’ credit profiles, profitability and products