NEW YORK — A group of lenders accused shopping mall operator General Growth Properties of including eight properties in its bankruptcy filing — including one in Oklahoma — that do not need protection from the courts.
The shopping centers, including the Tucson Mall in Arizona and the Stonestown Mall in San Francisco, are financially stable and do not need to be rehabilitated through a Chapter 11 reorganization, according to a filing made Monday by ING Clarion Capital Loan Services LLC, a loan administrator.
General Growth filed last month for the largest U.S. real estate bankruptcy case in history. The trust has $27 billion in debts.
The malls in question are in San Francisco, Bakersfield, and Visalia, Calif.; Jacksonville, Fla.; Lancaster, Pa.; Tucson, Ariz.; Bartlesville, Okla.; and Murray, Utah.
General Growth Properties Inc. spokesman David Keating said he had no comment because he had not yet seen ING’s request.
by the assoiated press
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