TBH19 Chapter 11 bankruptcy case converted to Chapter 7

By Sarah Lizee

Olympia, Wash., Feb. 5 – TBH19, LLC’s Chapter 11 bankruptcy case has been converted to Chapter 7, according to an order filed Thursday with the U.S. Bankruptcy Court for the Central District of California.

As previously reported, the court denied disclosure statements filed by TBH19, creditor DBD Credit Funding, LLC and the Ross parties in November.

The Ross parties include Leonard Ross, Rossco Holdings Inc., and LMR-TBH LLC. Leonard Ross is the principal of the debtor.

The court said there were significant flaws in each disclosure statement, mainly in regard to insufficient information within the statements.

“Without sufficient progress in obtaining approval of a disclosure statement, the court found it would be in the best interest of all parties to consider converting the case to a case under Chapter 7 or appointing a Chapter 11 trustee,” the order had said.

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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