Lenders that financed eight malls operated by General Growth Properties Inc. want the shopping centers dropped from the Chicago company's Chapter 11 case, claiming the malls' bankruptcies will "wreak havoc" on the commercial real estate lending market.

ING Group NV's ING Clarion Capital, the special servicer representing the lenders, said in a filing Monday with the U.S. Bankruptcy Court in Manhattan that if General Growth is allowed to include the properties in its Chapter 11 case, it "likely will wreak havoc with the structured finance markets" and will chill the flow of much-needed cash into the commercial mortgage-backed securities market.

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