General Growth Properties (GGP) Switches Bankruptcy Counsel

Earlier today, the Wall Street Journal reported that mall owner General Growth Properties (NYSE: GGP) has changed its bankruptcy counsel. General Growth parted ways with Sidley Austin LLP and hired Weil, Gotshal & Manges LLP.

General Growth is the struggling mall owner who is struggling to restructure or postpone payment on $27 billion in debt that comes due in the upcoming months. General Growth Properties has not filed for bankruptcy protection, but has warned that it may need to if it can't sell assets or get extensions with its lenders.

Weil Gotshal has extensive bankruptcy experience and some of its recent cases, include: Lehman Brothers Holdings Inc., Bethlehem Steel Corp. and Marvel Entertainment Group.

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General Growth Properties, Inc. (GGP) is a self-administered and self-managed real estate investment trust (REIT).

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