TBH19 creditor DBD Credit Funding calls planned borrowing unnecessary

By Caroline Salls

Pittsburgh, Dec. 31 – TBH19, LLC creditor DBD Credit Funding LLC objected to the company’s motion to borrow money, arguing that the requested funding is unnecessary, according to a Tuesday filing with the U.S. Bankruptcy Court for the Central District of California.

DBD said in its objection that TBH19 “fails to identify either how much money is to be borrowed or what any borrowings are to be spent on.”

In addition, the creditor said the company’s budget suggests that all necessary expenses can be funded out of expected revenues.

“Given this admission, the debtor advances no rational basis to borrow any money at this time,” the motion said.

A hearing is scheduled for Jan. 14.

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

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