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Posted On: February 15, 2010 by Scott Sagaria

Ala Moana's Chapter 11 Bankruptcy

San Jose Bankruptcy Attorney addresses Ala Moana Shopping Mall's Bankruptcy...

Ala Moana Center, Hawaii’s largest shopping mall, emerged from bankruptcy on January 25, 2010 as a part of its’ owner, General Growth Properties’ restructuring. Ala Moana Center was among 96 properties owned by 180 General Growth debtors to emerge from bankruptcy with the final 16 loans totaling $2.1 billion that remain to be restructured expected to be completed over the next few weeks. General Growth filed for Chapter 11 bankruptcy in April 2009 in an effort to restructure 74 mortgage loans totaling $9.4 billion. The company owns or manages more than 200 shopping malls across the United States, including five properties in Hawaii. In total, all of its properties include more than 24,000 stores and about 200 million square feet of retail space.

The company filed for bankruptcy after amassing $27 billion in debt. It is the second largest mall owned in the United States and is the biggest real estate bankruptcy in United States history. The company also completed a four-year extension of a $155 million mortgage on the Caroline Place Mall in North Carolina. Other properties owned by General Growth that emerged from bankruptcy included Four Seasons Town Centre , Ward Centre, Ward Entertainment Center, Ward Gateway Village and Prince Kuhio Plaza.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

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Posted In: Chapter 11 Bankruptcy

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