teach me about BMW N63 V8 please

So... a friend of mine has a 2011 BMW 550xi that has suffered major engine damage. He took it to a euro car specialist for an oil change and upon leaving he noted the car was down on power and not running well. That mechanic noted that it's a somewhat common issue and suggested he send the vehicle to the nearest BMW dealership to see if they could further diagnose the issue and whether it may be covered under a possible recall or TSB. Car has 93k miles on it currently. 
The dealer said they was no coverage for the vehicle but that the car probably needed a new engine. He needed some time to decide so I offered to pick it up from the dealer with him with my trailer. While he was inside paying them for the diagnosis I was waiting outside and watched as the tech started the car. It was blowing blue smoke at ticking very, VERY BADLY. I asked him to shut it down and that was it, it will not start now and it really is acting like it's seized or hydro locked. 
- is this a common issue with the N63? I have found some information stating there are known issues and even a bulletin advising dealers what to do. 

- has anyone heard of said bulletin. 

- he is kind of stuck on what to do, he's leaning towards selling it as is with the bad engine hoping to get around $6k for it. It's a really, really clean car. 

- the dealer told him about $15k for a new engine, he isn't going to do that but does anyone have an idea if he could get an engine installed for significantly cheaper. 

- should he try to part it out? The entire car is excellent, the engine is just crap. 
 

I guess I'm just hoping one of you knows of a magical recall or TSB I can steer my friend towards so he can get it repaired. He just bought the car last April and really loves it, I feel really bad for him. 
 

Thanks guys!!
 

It's not a good engine. The failure could be a combination of a few things: the timing chains stretch and eventually fail, they eat oil because of the turbo placement (in the V), and the valve stem seals fail, making the consumption even worse. They also have charging system issues, but that's not likely the problem here. How often did the oil get changed, and with what? Did he let it run low? Unless he has a customer care package and service history with BMW, he's probably boned.

Edit: See if his car falls under this: https://static.nhtsa.gov/odi/tsbs/2019/MC-10163992-9999.pdf

Thanks.
Oil changes were frequent but I do not know type of oil. To me, before it died all together it sounded like a timing issue. 

Probably timing chain then. IIRC, BMW was inspecting them for stretch at every oil change once the problem was known.

N63 is a time bomb. Sorry for your friend.

My friend asked me to post it for sale:

https://grassrootsmotorsports.com/forum/cars-sale/2011-bmw-550xi-not-running/181007/page1/