Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

Strategic Value Partners, LLC

2. Date of Event Requiring Statement (MM/DD/YYYY) 5/16/2022

3. Issuer Name and Ticker or Trading Symbol

CBL & ASSOCIATES PROPERTIES INC [CBL]

(Last) (First) (Middle)

100 WEST PUTNAM AVENUE

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director ___X___ 10% Owner
_____ Officer (give title below) _____ Other (specify below)

(Street)

GREENWICH, CT 06830

(City) (State) (Zip)

5. If Amendment, Date Original Filed(MM/DD/YYYY)

6. Individual or Joint/Group Filing(Check Applicable Line)

___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $0.001 per share	521328	I	See footnotes ⁽¹⁾⁽¹³⁾
Common Stock, par value $0.001 per share	43537	I	See footnotes ⁽²⁾⁽¹³⁾
Common Stock, par value $0.001 per share	14764	I	See footnotes ⁽³⁾⁽¹³⁾
Common Stock, par value $0.001 per share	5059	I	See footnotes ⁽⁴⁾⁽¹³⁾
Common Stock, par value $0.001 per share	129394	I	See footnotes ⁽⁵⁾⁽¹³⁾
Common Stock, par value $0.001 per share	128770	I	See footnotes ⁽⁶⁾⁽¹³⁾
Common Stock, par value $0.001 per share	1040744	I	See footnotes ⁽⁷⁾⁽¹³⁾
Common Stock, par value $0.001 per share	6074	I	See footnotes ⁽⁸⁾⁽¹³⁾
Common Stock, par value $0.001 per share	2388	I	See footnotes ⁽⁹⁾⁽¹³⁾
Common Stock, par value $0.001 per share	1220604	I	See footnotes ⁽¹⁰⁾⁽¹³⁾
Common Stock, par value $0.001 per share	83212	I	See footnotes ⁽¹¹⁾⁽¹³⁾
Common Stock, par value $0.001 per share	48115	I	See footnotes ⁽¹²⁾⁽¹³⁾

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:
(1)	Held directly by Strategic Value Capital Solutions Master Fund, L.P. SVP Dislocation LLC is the investment manager of Strategic Value Capital Solutions Master Fund, L.P.
(2)	Held directly by Strategic Value Capital Solutions Offshore Fund, L.P. SVP Dislocation LLC is the investment manager of Strategic Value Capital Solutions Offshore Fund, L.P.
(3)	Held directly by Strategic Value Capital Solutions Fund, L.P. SVP Dislocation LLC is the investment manager of Strategic Value Capital Solutions Fund, L.P.
(4)	Held directly by Strategic Value Sullivan Offshore Fund, L.P. SVP Dislocation LLC is the investment manager of Strategic Value Sullivan Offshore Fund, L.P. (Series 1). SVP Special Situations V LLC is the investment manager of Strategic Value Sullivan Offshore Fund, L.P. (Series 2).
(5)	Held directly by Strategic Value Excelsior Fund, L.P. SVP Excelsior Management, LLC is the investment manager of Strategic Value Excelsior Fund, L.P.
(6)	Held directly by Strategic Value Opportunities Fund, L.P. SVP Special Situations III-A LLC is the investment manager of Strategic Value Opportunities Fund, L.P.
(7)	Held directly by Strategic Value Special Situations Master Fund IV, L.P. SVP Special Situations IV LLC is the investment manager of Strategic Value Special Situations Master Fund IV, L.P.
(8)	Held directly by Strategic Value Special Situations Offshore Fund IV, L.P. SVP Special Situations IV LLC is the investment manager of Strategic Value Special Situations Offshore Fund IV, L.P.
(9)	Held directly by Strategic Value Special Situations Fund IV, L.P. SVP Special Situations IV LLC is the investment manager of Strategic Value Special Situations Fund IV, L.P.
(10)	Held directly by Strategic Value Special Situations Master Fund V, L.P. SVP Special Situations V LLC is the investment manager of Strategic Value Special Situations Master Fund V, L.P.
(11)	Held directly by Strategic Value Special Situations Offshore Fund V, L.P. SVP Special Situations V LLC is the investment manager of Strategic Value Special Situations Offshore Fund V, L.P.
(12)	Held directly by Strategic Value Special Situations Fund V, L.P. SVP Special Situations V LLC is the investment manager of Strategic Value Special Situations Fund V, L.P.
(13)	Strategic Value Partners, LLC, which is indirectly majority owned and controlled by Mr. Khosla, is the managing member of SVP Dislocation LLC, SVP Special Situations III-A, LLC, SVP Special Situations IV LLC, SVP Special Situations V LLC, and SVP Excelsior Management LLC. The filing of this Form 3 shall not be construed as an admission that the Reporting Persons are or were for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owners of any of the securities reported herein. The Reporting Persons disclaim such beneficial ownership, except to the extent of their pecuniary interest.

Remarks:
This Form 3 is one of two Form 3s filed relating to the same event. Combined, the two reports report the holdings for the following reporting persons: Strategic Value Partners, LLC, Victor Khosla, SVP Dislocation LLC, Strategic Value Capital Solutions Master Fund, L.P., Strategic Value Capital Solutions Offshore Fund, L.P., Strategic Value Capital Solutions Fund, L.P., Strategic Value Sullivan Offshore Fund, L.P., Strategic Value Opportunities Fund, L.P., SVP Special Situations III-A LLC, Strategic Value Special Situations Master Fund IV, L.P., Strategic Value Special Situations Offshore Fund IV, L.P., Strategic Value Special Situations Fund IV, L.P., SVP Special Situations IV LLC, Strategic Value Special Situations Master Fund V, L.P., Strategic Value Special Situations Offshore Fund V, L.P., Strategic Value Special Situations Fund V, L.P., SVP Special Situations V LLC, Strategic Value Excelsior Fund, L.P. and SVP Excelsior Management LLC. This Form 3 has been split into two filings because there are more than 10 reporting persons in total, and the SEC's EDGAR filing system limits a single Form 3 to a maximum of 10 reporting persons.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Strategic Value Partners, LLC 100 WEST PUTNAM AVENUE GREENWICH, CT 06830		X
Khosla Victor 100 WEST PUTNAM AVENUE GREENWICH, CT 06830		X
SVP Dislocation LLC 100 WEST PUTNAM AVENUE GREENWICH, CT 06830		X
Strategic Value Capital Solutions Master Fund, L.P. 100 WEST PUTNAM AVENUE GREENWICH, CT 06830		X
Strategic Value Capital Solutions Offshore Fund, L.P. 100 WEST PUTNAM AVENUE GREENWICH, CT 06830		X
Strategic Value Capital Solutions Fund, L.P. 100 WEST PUTNAM AVENUE GREENWICH, CT 06830		X
Strategic Value Sullivan Offshore Fund, L.P. 100 WEST PUTNAM AVENUE GREENWICH, CT 06830		X
Strategic Value Opportunities Fund, L.P. 100 WEST PUTNAM AVENUE GREENWICH, CT 06830		X
SVP Special Situations III-A LLC 100 WEST PUTNAM AVENUE GREENWICH, CT 06830		X
Strategic Value Special Situations Master Fund IV, L.P. 100 WEST PUTNAM AVENUE GREENWICH, CT 06830		X

Signatures
/s/ James Dougherty - for Strategic Value Partners, LLC, By: James Dougherty, Chief Financial Officer		5/26/2022
^**Signature of Reporting Person		Date
/s/ Victor Khosla		5/26/2022
^**Signature of Reporting Person		Date
/s/ James Dougherty - for SVP Dislocation LLC, By: James Dougherty, Chief Financial Officer		5/26/2022
^**Signature of Reporting Person		Date
/s/ James Dougherty - for Strategic Value Capital Solutions Master Fund, L.P., By: SVP Dislocation LLC, its investment manager, By: James Dougherty, Chief Financial Officer		5/26/2022
^**Signature of Reporting Person		Date
/s/ James Dougherty - for Strategic Value Capital Solutions Offshore Fund, L.P., By: SVP Dislocation LLC, its investment manager, By: James Dougherty, Chief Financial Officer		5/26/2022
^**Signature of Reporting Person		Date
/s/ James Dougherty - for Strategic Value Capital Solutions Fund, L.P., By: SVP Dislocation LLC, its investment manager, By: James Dougherty, Chief Financial Officer		5/26/2022
^**Signature of Reporting Person		Date
/s/ James Dougherty - for Strategic Value Sullivan Offshore Fund, L.P., By: SVP Dislocation LLC, its investment manager, By: James Dougherty, CFO and By: SVP Special Situations V LLC, its investment manager, By: James Dougherty, CFO		5/26/2022
^**Signature of Reporting Person		Date
/s/ James Dougherty - for Strategic Value Opportunities Fund, L.P., By: SVP Special Situations III-A, LLC, its investment manager, By: James Dougherty, Chief Financial Officer		5/26/2022
^**Signature of Reporting Person		Date
/s/ James Dougherty - for SVP Special Situations III-A, LLC, By: James Dougherty, Chief Financial Officer		5/26/2022
^**Signature of Reporting Person		Date
/s/ James Dougherty - for Strategic Value Special Situations Master Fund IV, L.P., By: SVP Special Situations IV LLC, its investment manager, By: James Dougherty, Chief Financial Officer		5/26/2022
^**Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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