Send lawyers, guns and money - One out of two anyway for General Growth Properties

Elk Grove Promenade developer hires big time bankruptcy law firm


General Growth Properties (GGP) reports today that they have hired Sidley Austin to help renegotiate it's $27 billion debt.

Although GGP has not filed any bankruptcy notice, the move points to the wobbly financial condition of the Chicago based mall developer.

GGP is the developer of the Elk Grove Promenade, which saw it's construction stopped in July.