General Growth Properties files for reorganization

Chicago General Growth Properties has filed its reorganization plan, and its lenders have agreed to restructure about $9.7 billion in shopping mall mortgage loans, more than previously planned.

Last month the mall operator, which earlier this year filed the largest U.S. real estate bankruptcy case in history, said its lenders had agreed to restructure some $8.9 billion in loans.

General Growth said the Bankruptcy Court of the Southern District of New York is set to confirm its reorganization plan on Dec. 15.