General Growth's DIP Financing Approved, May 13, 2009 The U.S. Bankruptcy Court for the Southern District of New York approved $400 million of debtor-in-possession financing that General Growth said would be used to refinance certain pre-petition secured indebtedness and support day-to-day operations during the bankruptcy process. The DIP financing is expected to close on May 15, 2009. The company has also received approval to on its motions to continue normal operations and cover its tenant obligations.