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General Growth bondholders seek to sue company--WSJ

NEW YORK, April 13 (Reuters) - A group of General Growth Properties Inc GGP.N bondholders have asked their trustee to sue the mall owner for payment on their past-due bonds, the Wall Street Journal reported on its website on Monday.

Citing people familiar with the matter, the newspaper said law firm Wilmer Cutler Pickering Hale and Dorr LLP sent a letter to General Growth saying it represents holders of 25 percent of its $395 million in bonds that were due last March 16 and weren't paid. The bondholders are seeking to have their trustee, Bank of New York Mellon Corp BK.N, sue General Growth for payment, in a step that could push the company closer to bankruptcy, The Wall Street Journal said.

General Growth, which owns more than 200 U.S. malls, has defaulted on several mortgages as well as a series of bonds. The company has been negotiating with its creditors for months, and has said that if it was unable to refinance its maturing debt, it might have to file for bankruptcy protection.

Bankruptcy attorneys at Wilmer Cutler Pickering Hale and Door were not immediately available for comment. A General Growth representative was not immediately available for comment. (Reporting by Emily Chasan; editing by Richard Chang)

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