CBL & Associates Properties, Inc. filed a motion in the US Bankruptcy Court for approving procedures for the sale of its De Minimis assets on November 12, 2020. As per the motion the De Minimis sale procedures shall apply to any sales or transfers of de Minimis assets in any individual transaction or series of related transactions to a single buyer or group of related buyers with a net selling price of $8 million or less. With regard to a De Minimis transaction with a net selling price less than or equal to $8 million, the debtor shall give written notice of each de Minimis transaction to notice parties. The sale notice shall be filed and sent to the notice parties by e-mail, facsimile, or first class mail at least 7 business days prior to the closing of such de Minimis transaction. With regard to a De Minimis Transaction with a selling price of between $3 million and $8 million, the debtor shall give a sale notice to the notice parties and all other parties required receiving notice under Bankruptcy Rule 2002(a) (2). Any objections to the De Minimis Transaction must be in writing, state the grounds for the objection with specificity, and be filed and served so as to be actually received on or before the Closing Date. If a sale objection is properly filed and served by the sale objection deadline, and the debtor and the objecting party are unable to reach an agreement among themselves, then the relevant de Minimis asset shall be sold or otherwise transferred only upon further order of this court, after notice and a hearing; provided, however, that the debtor, with the agreement of the relevant proposed counterparty, may consummate any portion of the de Minimis transaction that is not the subject of a sale objection on or after the expiration of the sale objection deadline. If no sale objection is properly filed and served by the sale objection deadline, then the debtor, without further order of the court, is authorized, but not directed, to consummate the de Minimis transaction immediately, and take such other actions as necessary to close such transaction and collect the proceeds thereof. The hearing is scheduled for November 23, 2020.