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CHICAGO-General Growth Properties, Inc. is hiring Sidley Austin as bankruptcy counsel, according to the Wall Street Journal. Although the struggling company has not announced that it will be filing for bankruptcy, it is still working out how to handle its $27-billion debt.

GGP has been long-suffering this year with the situation turning dire as their share price fell below $1. The mall developer has already changed its CFO and CEO and COO.

To read the full Wall Street Journal article: click here.

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