• Owner seeks extension for reorganization plan as it pursues redevelopment of Century III Mall

    By: By Tim Schooley – Reporter, Pittsburgh Business Times

    Updated:

    CORAOPOLIS, Pa - The owner of Century III Mall is seeking a second 60-day extension for its reorganization plan in the United States Bankruptcy Court for the Western District of Pennsylvania.

    According to court documents, the owner Century III Mall PA LLC, an affiliate of Las Vegas-based Moonbeam Capital Investments LLC, has petitioned the court for more time after establishing $5 million of debtor in possession financing and being granted its first extension in early February.

    After filing for protection from creditors in Chapter 11 last September over a dispute with Sears, the mall's ownership argues the "sheer size of and potential complexities associated with the property" requires more time to put together a reorganization plan expect to spur a redevelopment of the complex.

    Read more in the Pittsburgh Business Times.


    TRENDING NOW:



     

    Next Up: