Mall Owner CBL Says It Has Ch. 11 Deal With Bank Lenders

Law360 (March 25, 2021, 5:58 PM EDT) -- Retail space owner CBL & Associates told a Texas bankruptcy judge on Wednesday that it has reached a deal with almost all of its bank lenders to support its Chapter 11 plan of reorganization, creating a smooth path out of bankruptcy.

During a virtual trial hearing over a separate dispute involving an alleged default by the debtor on $1.1 billion in loans from bank lender Wells Fargo NA, CBL attorney Ray C. Schrock of Weil Gotshal & Manges LLP said that the litigation would be stayed in light of the deal reached on its plan.

"At this point, we have a...

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