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Email On August 11, 2009, in one of the most significant rulings to date in the GGP bankruptcy proceeding, the Bankruptcy Court denied motions to dismiss as bad faith filings the bankruptcy cases of 20 GGP property-level subsidiaries. In denying the motions, the court stated that the fundamental creditor protections negotiated in the special purpose entity structures at the property level are in place and will remain in place during the pendency of the chapter 11 cases. https://www.cadwalader.com/resources/clients-friends-memos/ggp-bankruptcy-court-denies-motions-to-dismiss-twenty-property-level-bankruptcy-cases-as-bad-faith-filings