This article was published in a slightly different form in the November 2016 issue of Futures & Derivatives Law by The Journal on the Law of Investment & Risk Management Products.
Introduction
USA, Derivatives, Insolvency & Restructuring, Litigation, White & Case, United States bankruptcy court
On May 14, 2009, Judge Allan Gropper of the US Bankruptcy Court, Southern District of New York, approved a US$400 million DIP financing package in the US$27 billion General Growth Properties, Inc. (“GGP”) Chapter 11 case. Judge Gropper’s ruling also included approval of GGP’s proposal to use cash flow generated by shopping centers, structured by GGP as bankruptcy remote, special purpose entities, to fund GGP’s ongoing central operations while in bankruptcy.
USA, New York, Insolvency & Restructuring, Litigation, Securitization & Structured Finance, White & Case, Bankruptcy, Debtor, Collateral (finance), Debt, Asset-backed security, Cashflow, Subsidiary, Commercial mortgage-backed security, Credit rating, Credit rating agency, United States bankruptcy court