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Mills CEO: "No New Problems."

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Are things looking up for Mills Corp.?
The chief executive of The Mills Corp. assured shareholders Friday that there are no undisclosed financial problems looming as the mall developer prepares to file its long-delayed financial earnings reports early next year.

Mark Ordan said the process of restating Mills reports has been "stunningly complex," but he provided few details about the reports and the reasons the real estate investment trust pushed back its expected filing dates several times this year. He said there were no issues beyond the previously disclosed accounting errors, which the company is trying to fix.

"You should not read any of my remarks to say that there is some smoking gun out there that we are hiding," Ordan said at Mills' annual meeting.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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