Caruso to Receive $48 million Settlement from General Growth

Americana at Brand developer Caruso Affiliated will be receiving a settlement of $48 million from Glendale Galleria mall owner General Growth Properties. It may not be money in the bank, though, as rumors have been swirling since November that debt-laden Chicago-based General Growth might soon be seeking bankruptcy protection, bolstered by the company’s hiring bankruptcy counsel. In December 2007 Caruso won a judgment of $89.2 million when a jury found that General Growth had violated antitrust and anticompetitive statutes in its efforts to halt the Americana at Brand lifestyle center development immediately adjacent to the Galleria.