In Re: TBH19 LLC

I. Factual and Procedural Background

A. Debtor’s $40,000,000 Loan In December 2015, Debtor, which is operated and indirectly owned by Leonard M. Ross (“Ross”), obtained a $40,000,000 loan from DBD, a commercial finance lender, which was secured by certain real property located at 1011 N. Beverly Drive, Beverly Hills, California, 90210 (the “Property”), along with other collateral. Debtor claims that the Property is valued at $115,000,000, and Debtor’s purported business is to rent the Property as a “filming location,” for “parties and . . . social affairs,” and for other residential purposes. Appellant’s Opening Brief, p. 10. Debtor and DBD entered into a Loan and Security Agreement, and Debtor executed various other loan documents, including a Promissory Note, Deed of Trust, Representation and Warranty Agreement, and UCC Financing Statement. Debtor induced DBD to make the loan based in part on various representations, warranties, and covenants. For example, Debtor agreed that “the proceeds of the Loan shall be used only for commercial purposes, and not for personal, household or consumer purposes,” and that, during all relevant times, “the Property shall not be used as a…