WFC - Wells Fargo agrees not to seize CBL's rent during court battle

Wells Fargo (WFC), which is representing senior lenders that are owed ~$1B by CBL & Associates (CBL), agreed to refrain from seizing rent payments owed by retailers to the mall owner while the two parties hash out the matter in bankruptcy court.via Bloomberg.A U.S. Bankruptcy judge signed a standstill order that required the bank to return any payments it may have received after Wells Fargo told some tenants to send it rent instead of CBL.The bank has agreed not to take any further actions against properties that CBL has put as collateral until the judge makes a final ruling.CBL is seeking from Judge David R. Jones a declaration to void and permanently block Wells Fargo from taking any actions that would interfere with CBL's reorganization efforts.Previously: CBL & Associates joins PREIT in filing for bankruptcy protection (Nov. 2)

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Wells Fargo agrees not to seize CBL's rent during court battle