Mall Owner CBL Says It Didn't Default On Wells Fargo Loans

Law360 (February 3, 2021, 10:01 PM EST) -- Mall owner CBL & Associates on Wednesday asked a Texas bankruptcy judge to throw out an attempt by Wells Fargo to declare it in default on $1.1 billion in loans and foreclose on dozens of malls, accusing the bank of manufacturing reasons to seize its property.

CBL opened the first day of the virtual trial of its adversary action against Wells Fargo with arguments that the claimed defaults were either not defaults at all under the terms of the loan agreement, didn't cost the lenders represented by Wells Fargo any money, or were waived by the bank, and therefore don't justify...

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