Court Denies Motions to Dismiss Bankruptcies of General Growth Special Purpose Entities: Are Bankruptcy-Remote Entities in Fact Bankruptcy-Remote?

11 September 2009
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This client update discusses a recent decision of the United States Bankruptcy Court for the Southern District of New York in the Chapter 11 proceedings of General Growth Properties, Inc. and its affiliated debtors, which raised the question whether special purpose entities can be considered bankruptcy-remote.