Mall operator CBL & Associates Properties Inc on Monday obtained bankruptcy court approval to access funds that will allow it to continue operations in Chapter 11, where it is battling lenders that are attempting to assert control over the company’s assets.
U.S. Bankruptcy Judge David Jones in Houston signed off on a series of administrative and operational motions during CBL’s first telephonic hearing after filing for Chapter 11 on Sunday. CBL, a publicly traded company represented by Weil, Gotshal & Manges, sought bankruptcy protection following months of COVID-19-related economic turmoil for its retail tenants.
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