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Shops at Broad lender objects to use of cash collateral
Chicago, Sept. 7 – Shops at Broad, LLC’s use of cash collateral during its bankruptcy was objected to by lender Trez Shops at Broad LP, according to a notice filed with the U.S. Bankruptcy Court for the Northern District of Texas.
Under a 2018 loan, the debtor owes Trez Shops $60,055,872.09 and under a 2019 loan the debtor owes $692,660.15.
Trez Shops claims that under the loan documents, it claims a senior perfected interest in the debtor’s rents, cash and other collateral.
The lender objects to the debtor’s use of cash collateral.
The Atlanta-based retail property owner filed bankruptcy under Chapter 11 case number 22-42059.
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