General Growth Properties files whopping $27.3 billion real estate bankruptcy.
New York, NY(NewYorkInjuryNews.com)–The second largest shopping mall owner in the United States, General Growth Properties Inc., filed the largest real estate Chapter 11 bankruptcy claim in American history in court on Thursday. As reported by Bloomberg, business litigation lawyers representing the owners of Boston’s Faneuil Hall, the South Street Seaport in New York City, and over 200 other properties filed Chapter 11 in U.S. Bankruptcy Court in the Southern District of New York.
Court documents, filed by attorneys, reveal Wilmington Trust Corporation, a financial holding company, along with Lasalle Bank National Association, holds $206.2 million of the total claims with General Growth Properties Inc. Bloomberg reported Wilmington Trust is the second-largest creditor of General Growth, after Eurohypo AG, which has about $2.59 billion in claims.
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