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  "documentTitle": "General Growth Properties (GGWPQ)",
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  "notes": "The slide argues that conflicting incentives among stakeholders lead to the underpricing of post-reorganization equity.",
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      "text": "Given the incentives of the various parties involved in a typical bankruptcy, equity holders require a shareholder advocate to protect their interests",
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      "text": "Post-reorganization equity is often underpriced as a result of the incentives of the various constituencies in a bankruptcy process",
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      "text": "\"Hit with your eyes closed\" POR projections — Management",
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      "text": "Secured Creditors, Unsecured Creditors, Management, Liquidation, Valuation, Rationale",
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      "text": "Incentives of Various Constituencies in a Typical Bankruptcy",
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