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Tillary Hotel owner gets court approval to access cash collateral
By Sarah Lizee
Olympia, Wash., March 29 – 85 Flatbush RHO Mezz LLC, the owner of the Tillary Hotel in Brooklyn, N.Y., received court approval to use the cash collateral of 85 Flatbush Avenue 1 LLC, according to a final order filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.
The debtor said in its motion that it currently has insufficient cash, absent use of the cash collateral, to meet its ongoing obligations necessary to maintain and operate the hotel.
The owner of the boutique hotel in Brooklyn, N.Y., filed bankruptcy on Dec. 18 under Chapter 11 case number 20-23280.
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