General Growth Properties Inc., the second-biggest US mall owner, will support a revised financing proposal led by Brookfield Asset Management in bankruptcy court over a competing bid by rival Simon Property Group.

Brookfield and its partners, Fairholme Capital Management and Pershing Square Capital Management, changed their plan to include increased equity commitments and fewer warrants initially upon court approval, General Growth said yesterday in a statement. The company will go before US Bankruptcy Judge Allan Gropper in Manhattan tomorrow to seek approval of its plan.

The new proposal has “significantly enhanced terms” over Brookfield’s original investment agreement, General Growth said in court documents filed in Manhattan yesterday.