General Growth to file reorganization plan

General Growth Properties, owner of the South Street Seaport in Lower Manhattan, will file its Chapter 11 reorganization plan on or around July 9, Crain’s reported. General Growth asked for one extension until Oct. 18 to file the plan and another extension until Dec. 16 to solicit acceptances of any plan. The extra time would allow them to explore all financing options. The company, which also owns about 200 shopping malls nationwide, filed for Chapter 11 last April, the biggest real estate bankruptcy case in U.S. history. [Crain’s]