The bankrupt owner of over 200 American malls from Boston to Los Angeles, General Growth Properties Inc., is aiming at confirming a reorganization plan by October 05, after taking as much as 60 days to consider proposals that tend to compete with one from Brookfield Asset Management Inc.

The firm's "dual-track" process, keeping in mind both mergers and financing bids, seems to be on a clear schedule, and would not take more time to close than a cash-based merger would, as has been shared by General Growth in papers that were filed yesterday in the US Bankruptcy Court in Manhattan.

"The creditors’ committee’s position is flawed. Any transaction will require the same time period to accomplish, as outlined by General Growth’s emergence timeline", lawyers for the company wrote.

The proposed deadline requires for bidding procedures to be filed by March 19, bids to be received by May 19, and a 35 days negotiation period.