TBH19: Court denies motion to obtain $800,000 revolving credit line

By Caroline Salls

Pittsburgh, June 4 – TBH19 LLC’s motion to obtain an $800,000 line of credit was denied Wednesday by the U.S. Bankruptcy Court for the Central District of California.

According to the motion, TBH19 has not been able to generate significant rental income from its property since the Covid-19 pandemic began.

As a result, the company requested approval to obtain an $800,000 revolving line of credit from insiders Leonard Ross and a related trust.

TBH19 said it has also applied for a loan from the Small Business Administration, but, as of the May 7 motion date, it had not yet received a response to its application.

TBH19 is a Los Angeles-based investment company. The company filed bankruptcy on Nov. 24, 2019 under Chapter 11 case number 19-23823.

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