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General Growth proposes revised $400M DIP

Posted on May 8, 2009 11:00 AM
Bankrupt General Growth Properties Inc. will ask a New York judge to approve a debtor-in-possession loan that replaces one that had never been drawn down, nor had ever received interim approval.

Judge Allan Gropper of the U.S. Bankruptcy Court for the Southern District of New York in Manhattan will consider the approval of the $400 million DIP financing on Friday.

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