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CBL - CBL & Associates' Bankruptcy RSA Is Illogical
CBL & Associates Properties Inc.
Mall owner CBL & Associates Properties (CBL) announced a negotiated restructuring support agreement, RSA, last week and announced that they will file for Ch.11 bankruptcy before October 1. Since bank term loan holders have not agreed to the RSA, it is likely major changes could be made to the agreement. It is important to also note that not all entities associated with CBL are going to be included in the joint bankruptcy filing. CBL was headed towards bankruptcy before Covid-19 and will continue to have major problems even after it exits bankruptcy some