Tillary Hotel ordered to cooperate with credit bid closing in next five days

Chicago, Nov. 9 – 85 Flatbush RHO Mezz LLC, the owner of the Tillary Hotel in Brooklyn, was not cooperating with the closing of the sale of the property to its lender TH Holdco LLC, but has been ordered to comply in the next five days, according to a filing with the U.S. Bankruptcy Court for the Southern District of New York.

It has been ordered that the credit bid would be closed on Wednesday morning, then the owners of the hotel need to do the following in the next five days or as soon as possible:

• File the outstanding August 2022 and September 2022 monthly operating reports;

• Provide to the lender all current leases, with information about current occupancy, rent payments, defaults, contracts and permits and licenses;

• Provide employee files, the payroll register with paid time off accruals and current payroll amounts through Nov. 9;

• Provide a list of onsite hardware;

• Provide a plan for delivery of control of reputation management handles and administration, including Google My Business Listing;

• Access to all URLs and domains;

• A listing of pending disbursements and any other further planned disbursements to be made before the closing date; and

• Open post-petition invoices and payment information related to vendors and suppliers.

If the owners do not comply, the lender/buyer is authorized to tack other action to reasonably effectuate the closing.

The owner of the boutique hotel in Brooklyn, N.Y., filed bankruptcy on Dec. 18, 2020 under Chapter 11 case number 20-23280.

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