Do the recent rulings in the general growth properties bankruptcy spell doom for equipment debt securitizations?

Not necessarily so, according to the recent rulings of Southern District of New York Bankruptcy Judge Allan Gropper in the US$27 billion General Growth Properties Chapter 11 bankruptcy—at least with respect to the issue of substantive consolidation.

Filed under:
USA, New York, Insolvency & Restructuring, Litigation, Securitization & Structured Finance, White & Case, Public company, Bankruptcy, Debtor, Collateral (finance), Interest, Debt, Underwriting, Default (finance), Subsidiary, Secured loan, Credit rating agency, United States bankruptcy court
Authors:
Craig H. Averch , James Cairns
Location:
USA
Firm:
White & Case