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McKool Smith principal John Sparacino was quoted in Bloomberg's article, "Mall Shakeout Just Beginning While Owners Drown in Complex Debt." Two major U.S. mall owners, Pennsylvania Real Estate Investment Trust and CBL & Associates Properties Inc., filing for bankruptcy could only be the start of a chain reaction. However, the path to rescue malls is rather complicated. With regard to debt,  John commented, “Commercial real estate problems are looming very closely on the horizon. I really don’t think I’d want to be a property owner right now -- and I sure wouldn’t want to be a lender.” Read the entire article here.

Additional media coverage: Bloomberg Law, Crain’s New York Business, Crain’s Chicago Business, Yahoo, Asset Securitization Report and Financial Advisor.  

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