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Alias Born | 10/25/2007 |
Thursday, April 16, 2009 11:58:06 AM
In Chapter 11 all the creditors have to approve the restructuring plan. This is likely to happen because none of the creditors want to force liquidation, a situation in which they would all lose big time. You'll notice already that some of the creditors are posting PR's suggesting they will only lose 10% of the amount of their loans to GGP. I think that is a pretty good sign. A little debt relief spread evenly among all creditors and this is a healthy roaring company again.
The bankruptcy filing today is one of the best possible scenarios for shareholders that can wait out three to six months for the process to work.
Recent GGP News
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